We. Are. Peoria (Area)

From The Hill:
“The IRS is planning to extend the tax-filing deadline to mid-May, according to two top House Democrats.
A news release Wednesday from House Ways and Means Committee Chairman Richard Neal (D-Mass.) and Ways and Means Oversight Subcommittee Chairman Bill Pascrell (D-N.J.) states that the deadline will be moved from April 15 to May 17.
The development comes after Neal, Pascrell and other lawmakers on both sides of the aisle pressed for an extension of the April 15 deadline in recent weeks.
“This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” Neal and Pascrell said. “Under titanic stress and strain, American taxpayers and tax preparers must have more time to file tax returns. And the IRS itself started the filing season late, continues to be behind schedule, and now must implement changes from the American Rescue Plan."”

Well, we've already filed our Federal taxes, now to wait for refund. It'll be about 1k less though, because when I did my W-4 for WMBD last year, there was no box allowing "married but single rate. That option no longer available. I had to check "Married but filing jointly", and had an extra $5 taken out. (Way too low for pay every two weeks). So while we enjoyed extra net pay all year, our overall tax rate was only 6%.

We like having bigger refunds, so I changed my W-4 to have more taxes taken out.

DennisinMH wrote: ↑Thu Mar 18, 2021 6:13 am our overall tax rate was only 6%.

you won't have that worry under the Potato Dictator.

DennisinMH wrote: ↑Thu Mar 18, 2021 6:13 am
We like having bigger refunds, so I changed my W-4 to have more taxes taken out.

Why give the government a zero-interest loan? Put that extra money every pay period into a local bank account instead. You can still pull out that “big refund” in the spring (including a small amount of interest), or whenever you want/need it. It also helps “stimulate” your local economy.

Extensions for filing taxes always makes me wonder, are these the same people that don't realize that Christmas is December 25th......EVERY YEAR !!!!!

Toldyouso wrote: ↑Thu Mar 18, 2021 5:45 pm

DennisinMH wrote: ↑Thu Mar 18, 2021 6:13 am
We like having bigger refunds, so I changed my W-4 to have more taxes taken out.

Why give the government a zero-interest loan? Put that extra money every pay period into a local bank account instead. You can still pull out that “big refund” in the spring (including a small amount of interest), or whenever you want/need it. It also helps “stimulate” your local economy.

not to mention you have it available in an emergency. The ONLY reason I can think of to do this is because you cannot manage your own finances. And some people can't.

AV8R wrote: ↑Fri Mar 19, 2021 11:26 am

Toldyouso wrote: ↑Thu Mar 18, 2021 5:45 pm

DennisinMH wrote: ↑Thu Mar 18, 2021 6:13 am
We like having bigger refunds, so I changed my W-4 to have more taxes taken out.

Why give the government a zero-interest loan? Put that extra money every pay period into a local bank account instead. You can still pull out that “big refund” in the spring (including a small amount of interest), or whenever you want/need it. It also helps “stimulate” your local economy.

not to mention you have it available in an emergency. The ONLY reason I can think of to do this is because you cannot manage your own finances. And some people can't.

A lot of people struggle with that. The best advice is to pay yourself first. Have *whatever amount* automatically deposited into a savings account each pay period. You won’t miss it, and the money is there when you need it.

I had more money taken out each pay period because I'm tired of writing a three digit check to the robberbaron state of Illinois every year..

For as long as we've been filing jointly, my wife and I have never had to pay, either state or federal. Always gotten a refund.