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Tax Season in the U.S.. Have you filed?


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Well, it's that time of year again. Time to start getting ready to file if you haven't already. If you're from the U.S, how are the new tax laws affecting you as an expat? The new system is a little weird for us old-timers who are used to being able to claim individual exemptions for our dependents. Now, it's just one big exemption, instead of several smaller ones. For us, worked out about the same, but for some it will not be so I suppose.

Filed a couple of weeks ago. Used TaxAct for the first time and was really happy with it. For my situation, it was a lot cheaper than TurboTax (what I used in the past) and seemed to be easier to use (to me anyway.) It won't be much but even getting a small refund this year. First time in many years that's happened. lol.

So, how about you? Filed? Getting ready? Putting it off for as long as possible? Or, just forget about it?

One way or another, Uncle Sam will get his!

 

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I have not had to file in years.  But... in the next couple months I will start getting a retirement check and will have to start filing again.  Bummer.  Last time I filed I just used the 'free file' button on the IRS website and picked H&R or Turbo, I don't remember which, but free is good.

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Did mine for free at the Credit Karma website. It was a relatively easy process. One big exemption for all dependents? I think you may be mistaken. The standard deduction is up so fewer people will itemize deductions. The rules have changed for claiming dependents. Last year if a child earned more than a certain amount you could not claim him/her as a dependent. Now if he she is a student and younger than 24 you can do the claiming regardless of money earned.

The average refund is down almost 9%, because the rules on withholding changed. Less money was withheld from paychecks for taxes so refunds are down.

BTW the tax cut for most people expires in 2 or 3 years but the tax cut for very wealthy individuals does NOT expire. 

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Also, a reminder that those of you who had >$10,000 in a PH bank anytime during the year, you need to file FBAR by April 15th.

I'm working on my taxes an this year should be OK.  Last year I blew it because I didn't have enough income and tax owed to benefit from the new child tax credit, $2000 per kid.  Times 2 for me.  I only got a little bit of that last year but this year I tried to have enough income and tax owed to get it all.

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Filed late last month and still waiting for the refund. Had to mail it tho cuz I can't use free file on the internet because I'm living in the Phills. I hope they don't keep it to help build the wall!:huh:

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