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-   -   Forgot to sign my 1040 for my tax return (https://www.ft86club.com/forums/showthread.php?t=61590)

eddieEndo 03-25-2014 06:49 AM

Forgot to sign my 1040 for my tax return
 
they sent it back with a green form on top telling me to sign it and resend it... is it gonna be another 4-6 weeks ? or does it process quicker

sshole 03-25-2014 08:49 AM

You'll get it next year.

Source: I'm not your accountant, so that statement above is false.

7thgear 03-25-2014 09:13 AM

Quote:

Originally Posted by eddieEndo (Post 1624252)
they sent it back with a green form on top telling me to sign it and resend it... is it gonna be another 4-6 weeks ? or does it process quicker

call them?

it would depend entirely on their internal processing systems

Mikem53 03-25-2014 09:56 AM

It's only processes quicker when you owe..
Taxes suck.. Having to claim the refund you got last year as income is a fucking crime..

fourvalleys 03-25-2014 10:11 AM

Quote:

Originally Posted by Mikem53 (Post 1624376)
Having to claim the refund you got last year as income is a fucking crime..

You do understand what the point of the refund is, right? It's the amount of your total income that you overpaid in tax withholding. It is part of your income.

You can get a bigger paycheck by filing a new W4 with your employer and decreasing your withholding, but you'll get a smaller refund. Conversely, if you want the federal government to withhold more of your paycheck every week, you can get a huge refund every year. Not sure why you'd do that, though. Your goal should be to get a refund of $0 so that you can earn interest on your income over the course of the year!

e: to the original person, unfortunately I think you'll have to re-start the clock.

OrbitalEllipses 03-25-2014 11:38 AM

File electronically next time, especially if you're using a 1040EZ/don't itemize your deductions.

Quote:

Originally Posted by fourvalleys (Post 1624393)
You do understand what the point of the refund is, right? It's the amount of your total income that you overpaid in tax withholding. It is part of your income.

You can get a bigger paycheck by filing a new W4 with your employer and decreasing your withholding, but you'll get a smaller refund. Conversely, if you want the federal government to withhold more of your paycheck every week, you can get a huge refund every year. Not sure why you'd do that, though. Your goal should be to get a refund of $0 so that you can earn interest on your income over the course of the year!

e: to the original person, unfortunately I think you'll have to re-start the clock.

Yup.

wheelhaus 03-25-2014 12:29 PM

We tried to file electronically but couldn't for some reason, it had to be mailed. Of course we forgot to sign since we've been filing electronically for the past 10 years. I blame my wife.

In the envelope was a printed sheet with an address, it was slightly different than the original mail-in address. Hopefully it goes directly to people who only verify updates/missing information and finish the filing procedure more expeditiously. Our return had stamps and stuff all over it so I guess it's all been verified and shouldn't need the entire process again...

eddieEndo 03-25-2014 02:37 PM

Quote:

Originally Posted by wheelhaus (Post 1624652)
We tried to file electronically but couldn't for some reason, it had to be mailed. Of course we forgot to sign since we've been filing electronically for the past 10 years. I blame my wife.

In the envelope was a printed sheet with an address, it was slightly different than the original mail-in address. Hopefully it goes directly to people who only verify updates/missing information and finish the filing procedure more expeditiously. Our return had stamps and stuff all over it so I guess it's all been verified and shouldn't need the entire process again...


yeah i had to mail it
to a different address as well, thats why im hopng it processes quicksr

eddieEndo 03-27-2014 06:43 PM

has anyone gone through this previously? any input as to how long to signed and returned tax return will take

SirBrass 03-27-2014 07:17 PM

Quote:

Originally Posted by fourvalleys (Post 1624393)
You do understand what the point of the refund is, right? It's the amount of your total income that you overpaid in tax withholding. It is part of your income.

No. Since withholding is basically required by the IRS (they get real pissy if you want to only pay them on tax day instead of bit by bit over the entire year), what your return is, is basically them borrowing your money at 0% interest.

The available W2 % options may leave you no choice: either over pay and get borrowed money back with no interest, or under pay and owe.

Damned if you do, damned if you don't. Just remember what the IRS motto is: "It's your money and we want it now!"

fourvalleys 03-27-2014 08:00 PM

Quote:

Originally Posted by SirBrass (Post 1630895)
No. Since withholding is basically required by the IRS (they get real pissy if you want to only pay them on tax day instead of bit by bit over the entire year), what your return is, is basically them borrowing your money at 0% interest.

The available W2 % options may leave you no choice: either over pay and get borrowed money back with no interest, or under pay and owe.

Damned if you do, damned if you don't. Just remember what the IRS motto is: "It's your money and we want it now!"

First of all, you're saying exactly the same thing as I am. Anything you get in a refund is something you could have earned interest on during the year. If you get a big refund, the IRS was the one making interest on your money.

Second, it's your decision what you put for your withholding on that W-4. Do you want to make the most on each paycheck (and earn interest if you put it in the bank)? Or would you rather have a forced savings account with the IRS at 0% interest but get a big refund in spring?

You're correct, you probably won't guess exactly right and have a zero refund just by filing a new W-4, but you can probably get close enough to owe or be refunded a very small amount at the end of the year, and you can earn interest on your own money throughout the whole year. That definitely makes the most sense.

SirBrass 03-27-2014 08:14 PM

It really depends on your income sources. If you also have 1099's, then what you owe is based on how much you earned in capital gains sales as well, which don't have withholding attached to them.

It's enough to make anyone with a reasonable income want to scream and scrap the mountain which is our horrendous tax code.

XanRules 03-27-2014 08:58 PM

Quote:

Originally Posted by fourvalleys (Post 1630997)
First of all, you're saying exactly the same thing as I am. Anything you get in a refund is something you could have earned interest on during the year. If you get a big refund, the IRS was the one making interest on your money.

Second, it's your decision what you put for your withholding on that W-4. Do you want to make the most on each paycheck (and earn interest if you put it in the bank)? Or would you rather have a forced savings account with the IRS at 0% interest but get a big refund in spring?

You're correct, you probably won't guess exactly right and have a zero refund just by filing a new W-4, but you can probably get close enough to owe or be refunded a very small amount at the end of the year, and you can earn interest on your own money throughout the whole year. That definitely makes the most sense.

Correct. Not rocket surgery, but a lot of people really don't understand how taxes work (which is pretty simple for most of us).

My SNAFU this year was that TurboTax didn't transfer all my info from my 1040 to my state return, which resulted in them disallowing most of my deductions for reasons that don't apply to me (I'm not married, nobody claims me as a dependent, and I don't make over $150,000 a year). They're processing my appeal now but I'm gonna write a nasty letter to turbotax :bonk:

fourvalleys 03-27-2014 10:38 PM

Quote:

Originally Posted by SirBrass (Post 1631031)
It really depends on your income sources. If you also have 1099's, then what you owe is based on how much you earned in capital gains sales as well, which don't have withholding attached to them.

I always love getting my Capital Gains and Interest statements each spring because I don't even know where most of it comes from (it's stuff my parents did when I was young but I didn't know about and still don't). So I'll end up paying taxes on income I didn't know I was making. I should probably figure out what those are doing for me, though.

Quote:

Originally Posted by XanRules (Post 1631125)
My SNAFU this year was that TurboTax didn't transfer all my info from my 1040 to my state return, which resulted in them disallowing most of my deductions for reasons that don't apply to me (I'm not married, nobody claims me as a dependent, and I don't make over $150,000 a year). They're processing my appeal now but I'm gonna write a nasty letter to turbotax :bonk:

Ah, a state income tax return. There's something I don't miss. Good luck!


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