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Yea!! Tax time! *LOL* I've worked in the tax industry for four years, and own The Tax Store. I'm soooo happy to finally be able to have an income again for the year. I'm not an accountant, but I live and breathe taxes.
Cutiepatootie-- just be aware that unemployment is unearned income and therefore is not part of calculating EITC (Earned Income Tax Credit).
AGDee-- be careful with Turbo Tax. It doesn't automatically find all of the credits that you may be able to get. I've had clients come in with their Turbo Tax prepared documents, who just want me to e-file it for them. I'll make a deal, I'll e-file it really cheap, if I find no mistakes. But they have to pay me full price if I am able to find more credits. They've always ended up paying me full price. If you have children, it doesn't autofind the child tax credit or the additional child tax credit.
Also with liquidating IRAs, did you hold back taxes for that? It's usually 20 percent tax plus 10 percent penalty for early withdrawl, unless certain circumstances apply.
AlphaFrog-- Yes it's illegal to send it to the IRS without having the W-2. Even when we do pre-file loans, we have to have the W-2 in hand before submitting the info to the IRS. Not that there aren't preparers and people who do it. I know one preparer in particular that's already doing it, and has done over 50 returns to be submitted on Jan. 11, when we open up for transmitting. I wouldn't advise it however, because if your W-2 doesn't match the information you have, you'll have to prepare an amended return. Those are a pain in the ass.
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“All his life he tried to be a good person. Many times, however, he failed.
For after all, he was only human. He wasn't a dog.”
― Charles M. Schultz
Warning: The above post may be dripping in sarcasm and full of smartassedness.
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