I think I'm going to become a Republican again

[Droopy]

I just got done with my taxes. There is some good tax software on the web called TaxAct. Just do a search for it and you'll find it. For simple tax returns it is free. For more complicated returns it costs $9.95 for federal and $6 for state. You're on your own with your local income taxes. I had a complicated return so I gave them the $15. I was done in about 2 hours and I'm a slow reader.

I owed the government money for the first time ever. I sold my 401k last year and the investment company took out income tax, but they didn't allow for the penalty. Making matters worse is that I had 4 employers last year. Three of them didn't take out local income tax when I worked for them.

So my total tax bill was around $1750. That really smarts when you get hit with it all at once. Damn them liberal tree huggin' bastards! I want my flat tax! x(

[Random_Australian]

1. Better to have had $1750 and lost, than never to have had $1750 at all.

But don't worry - it's only American dollars, and in a couple of years they might not be worth much anyhow.

Weeeelllll.... only if the repubs manage to keep office. :rofl:

[Droopy]

2. Well, that's weird

It appears that TaxAct is advertising on DU. I didn't realize that when I wrote this post.

[hippywife]

3. Early distribution from IRA.

The investment company isn't responsible for the penalty, you are, so they never take it out. It's due at tax time. Least, that's always the way I've seen it work.

[Droopy]

4. That's true

But it seems like if they can withhold taxes on the income then they could withhold enough to cover the penalty.

[trof]

5. Yeah, I've been using TaxAct for 2-3 years. Love it.