skip to main content

Household Finances

Our Federal tax return

victory_tea2085

19 years ago

came back almost $2000 short. We used turbo tax- sent it in and yesterday recieved a check (no notes or explanations) that was way short of our income tax claim. NOW WHAT! Sorry to yell, but if it was the other way around there probably would be deputies at our house. What should we do? Paul

Sort by:Oldest

Comments (6)

jasper60103
19 years ago
I would hold the check and try to call someone at the irs.

Here is a link that might be useful: how to contact the irs
alphacat
19 years ago
I expect that they will send you a letter explaining the discrepancy. Then you can decide what to do.
Related Discussions
Where our tax dollars are going!
Q
Comments (4)
All I know is that if the Government didn't take my money, from me and spend it on things they invent, I would spend it on me, and maybe put my neighbor to work. If the problem is all the stuff we buy comes from overseas, then look at the why the Government allows unbalanced trade, and also why any American company would have an advantage to move production overseas. It just seems that no matter what the problem, the government can't fix it, because at some level, they created it. OK, the FBI is knocking at my door, gotta go! lol George
...See More
Federal income tax question
Q
Comments (6)
sconti- There are many things you can factor in to minimize your capital gain on the house you sold if the profit exceeds the $500K exemption for a married couple. Start by taking a look at the IRS publication link below. Then, when you think you understand it, invest an hour with a CPA to make sure you've got everything you've entitled to. As far as the house you just bought, the deductions are going to be interest and property taxes. Here is a link that might be useful: Selling your home.
...See More
Income tax return done: income up, gifts up, tax not
Q
Comments (1)
" She has somewhat limited accounting skills and told me this year that the paper that I gave her last year detailing how to arrange the payments was too small, to which I said that I had meant it as a guide as she set up her account book. " I'm afraid I LOL at this one! Not that I haven't misunderstood some equally commonsense things at times. Of course common sense often depends heavily on knowledge, so if the knowledge isn't there, neither is the sense.
...See More
Home equity loan and Federal taxes
Q
Comments (6)
Good advice jlhug Kudzu9...quick question. Did you pay more than $600 in interest on the Home Equity Loan? If so, the lender owes you a 1098. Do you think it just hasn't arrived? In brief, the IRS likes the documents THEY receive (1098s, 1099s etc) to match what you report and they like you to use the right lines....kind of like your kindergarten teacher. I work as a volunteer tax preparer for AARP and VITA. We do fairly simple returns (no Schedule C's for us). The first few weeks of February, we get a lot of people who want to file before all their 1099s and 1098s arrive...using year-end statments. We send them home because the IRS gets very snippy with us if we go ahead. We hear back from them every year so we can improve out training. IRS likes the numbers from the mortgage interest 1098s sent to THEM to match what is reported on line 10...much easier to do in the age of electronic filing. We don't want our customers getting intimidating letters asking for an explanation. So, if you expect to receive a 1098 and you think your lender will send one to the IRS, you may want to give the mailman a few more days or call your lender. If you do not expect to receive a 1098, use line 11. Sound picky? Yup, but tax people tend to be picky people. That's my free advice...you get what you pay for.
...See More
liketolearn
19 years ago
Sometimes this is the result of an offset due to back childsupport, back taxes, or back student loans. But you will really need to call the IRS to find out why. Try calling the IRS offset # 800-304-3107 (not sure if # changed but give it a try).
joyfulguy
19 years ago
When I worked as a personal financial advisor, I recommended to my clients that they plan to have next to nil tax refund.

Thank you, victory tea 2085, for making it easier for your government to operate by making them such a free loan, that probably began small in Jan 2006 and increased gradually through the year till it reached the final amount of your refund in Dec. and stayed at that level from Jan 1 till now.

If you're interested in making other no-interest loans, I'd be glad to make an application, as I must pay about 6.00 - 6.25% on a fully-secured Line of Credit at the bank.

By the way ... I can show you how to make loans for investment purposes at very low (usually nearly nil) net cost.

I hope that you are having a lovely spring.

ole joyful
bentruler
19 years ago
Wait for the letter explaining the difference. Had that happen one year, got the kids ssn wrong. oops.
victory_tea2085
Original Author
19 years ago
Thanks to all. Wife got son's ssn wrong- right on the button ,bentruler. YEAH!

Related Stories

DECORATING GUIDES Tax Refunds Provide Style Returns

By Shawn Gauthier

Unexpected cash practically begs small splurges: an accessory here, a furniture upgrade there, maybe some lovely new linens ...

REMODELING GUIDES Architecture Pays Tribute to the Tax Man

By Bud Dietrich, AIA

Skipping taxes doesn't always mean skipping the country. These architectural features let owners avoid certain taxes without leaving home

DISASTER PREP & RECOVERY Houzz Tour: Family Rebuilds Home and Community After Hurricane Sandy

By Becky Harris

This restored coastal New Jersey house — now raised 9 feet off the ground — offers inspiration for neighbors considering a return

TRADITIONAL HOMES My Houzz: Step Inside a Grand 1800s Victorian

By Sarah Greenman

A 7,000-square-foot historic estate returns to glory, thanks to loving renovations by a tireless Texas couple

FUN HOUZZ Everything I Need to Know About Decorating I Learned from Downton Abbey

Mind your manors with these 10 decorating tips from the PBS series, returning on January 5

MOST POPULAR 5 Remodels That Make Good Resale Value Sense — and 5 That Don’t

By Matt Clawson

Find out which projects offer the best return on your investment dollars

SELLING YOUR HOUSE 5 Savvy Fixes to Help Your Home Sell

By Kristie Barnett, The Decorologist

Get the maximum return on your spruce-up dollars by putting your money in the areas buyers care most about

KITCHEN DESIGN Kitchen of the Week: Uncovering History in an 1800s Colonial

By Vanessa Brunner

Brick features from long ago return to prominence, but a raised ceiling and newly open layout set them squarely in the now

PRODUCT PICKS Guest Picks: 20 Mirrors That Make the Room

By Laura Gaskill

You and your visitors will reflect on how big a statement these mirrors for every home style make

GREEN BUILDING Going Solar at Home: Solar Panel Basics

By Christine Tusher

Save money on electricity and reduce your carbon footprint by installing photovoltaic panels. This guide will help you get started

Sponsored

Custom Home Works

10 Reviews

Franklin County's Award-Winning Design, Build and Remodeling Expert