B.C.

Taxes are due today..... Paying? Refund?

Lensman425

Paying the federal but getting more in return from the state. It's only a couple of hundred bucks but better than having to pay

B.C.

From the way things are going the state might take a while

Lensman425

I was in NY all of last year. NY state FTW My accountant said I should see it in a couple of weeks (said this last week)

boosted180sx

I got my taxes back a couple weeks ago. Its only a couple hundred dollars for both state and fed combined but I guess it's better than having to pay

Mr Dave

2009 was my worst year of the decade, but luckily I got a refund from both State and Fed.
Filed electronically and got the state refund check in 5 days.

don2007

$2000 from the feds
$800 from the state

It's nice to get a chunk of money, but should I have my employer withhold less? That is money I could be making interest on.

kundanp333

This is an excellent point. Withholding more taxes than you are anticipating on paying is a financially dumb idea. You are basically giving the government a free loan.

Ideally you pay nothing and break even. (i.e pay or be refunded 50-100 dollars). If you manage money well, if you end up paying at the end, then you are getting an interest free loan from the government in a way.

North Star

I got a refund. With having two kids, and being laid off for the past year and a half (got a new job at the beginning of the year), the wifey and I got a decent amount back. But since we were on unemployement, we got nothing from state. Next year should be better.