But they already held out taxes

[RitaB]

I had to smile just now.  The return I just did has this little elderly lady getting back what was withheld on her retirement distribution.  I could tell that was going to happen when she came in, but she did NOT want to give up that 1099-R.  "But they already held out the taxes."  I thought I was gonna have to write $1,000 on a slip of paper and slide it across my desk at her and say, "Hey, here's what I can get you if you hand over that form." 

But, I just wrenched it out of her hand cause I didn't have time to do that.

[ILLMAS]

Oh dear Rita, I wish I had your patience

[GeneInAlabama]

Is your back yard full already?

 

[Lion EA]

Had one of those my very first year doing taxes.  We danced for two hours before she gave it up.  Now I use Rita's method to wrench it our of her hands!

Unfortunately, they always owe MORE than before they hint that they might've taken money out of their retirement plan, because only the 10% penalty was withheld and not their income taxes.  They don't believe me that it would be even worse if they hid it from me when IRS & CT add on penalties and interest.

[JJStephens]

Client is a math teacher. His income went down 2k last year. Doesn't understand why he owes more. I explained that his wife made 9k more in self-employment income (they refuse to make quarterly payments)--that not only way more than offset his decrease but there's SE tax on top of that. His reply, "Oh, I didn't think about her income. I thought it was just based on mine."

April 18 cometh.

[Lion EA]

And, they are teaching the next generation!  

[Lee B]

I didn't make any money !

I can't possibly owe that much !

(She and her husband cleared 150 k from their S Corp and paid no estimated payments )

[Gail in Virginia]

But I paid in the estimates (and failed to mention an additional $35,000 of self employment income).  And we had taxes taken out of everything else (at less than 10% with a total income over $200,000.)  I don't know why you owe either. 

[RitaB]

My guy who has two kids and filled out his W-4 as Married and six exemptions?  Possi explained to me what he thought.  He thought it meant Married and making six figures.

And my guy who owes 3K on 2015, just called and said he was using the 1040-ES vouchers I gave him.  Uh, you do know that the 2016 1040-ES Vouchers that say, "2016 Form 1040-ES Estimated Payment Voucher" mean, well,  "Use me to estimate and pay your taxes for 2016," right?  No. No, he did not know that.

[Richcpaman]

Phone rings today:

Me: Hello.

Person: Can you help me out?

Me: Sure.

Person: "Is the 1040EZ form easy to prepare?

Me:

 

[Terry D EA]

5 hours ago, cbslee said:

I didn't make any money !

I can't possibly owe that much !

(She and her husband cleared 150 k from their S Corp and paid no estimated payments )

Got one of these as well only client's made a bit more on the S-Corp.

[NECPA in NEBRASKA]

I have one with 3 kids, wife with part time job and claims 12 EXEMPTIONS. Why don't they get a bigger refund or have to pay every year? I go over this every year with him, but the withholding stays the same. I checked, but apparently the rule that the employer had to send the W4 to the IRS because it had over 10 exemptions isn't in effect anymore.