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How is 2021 tax season going to treat you?

wrenbaker

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You can elect to have an additonal, specific amount withheld from each paycheck above the W-4 withholding. I just did this so that I end up paying more throughout the year.
Thanks, I know now for next year. I even did the tax estimator on the IRS website before I changed it. The personal allowances were eliminated on this new form. I read that the updated w-4 was implemented so that there is less $ being refunded during tax season.

“The new W-4 form was intended to minimize refunds and have withholdings more accurately reflect people's ultimate tax liabilities. In other words, many taxpayers took home slightly bigger paychecks last year at the expense of refunds this spring.”

https://www.cnbc.com/2021/01/29/don...t-april-tax-season-may-be-a-big-surprise.html

“Allowances are no longer used for the redesigned Form W-4. This change is meant to increase transparency, simplicity, and accuracy of the form. In the past, the value of a withholding allowance was tied to the amount of the personal exemption. Due to changes in law, currently you cannot claim personal exemptions or dependency exemptions.”

FAQs on the 2020 Form W-4 | Internal Revenue Service
 

Bianca Roja

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My federal was accepted on 2/13 and state 2/19. I hope refunds are quick this year.
 
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Anyone else get their return yet? Found it weird I filed weeks ago they accepted on the 12th and my return is in my account this morning. Never had it this fast, mistake maybe?
 

MssMoney

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Got a 4000 tax return, late. But they sent me another stimmy, which I was confused about. But now I owe 350 dollars to the IRS. What a mess. :ROFLMAO:
 

StayinSane

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I still haven't gotten my federal tax refund! WTF?! :tired_face: Yeah I know they're backed up but it shouldn't take this long. Or they need to hire more people and get these refunds out! Ridiculous!!
 

Intimacy

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Filed late but owed the federal government because I received a raise a little after the start of 2021

And received very little from state (per the usual)

2022 is going to be a mess for my taxes
 

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