Personal Finance Tax Refund Went to Someone Else’s Account |
- Tax Refund Went to Someone Else’s Account
- Grandma Is Dying And Has Lots Of CC Debt From Shopping Addiction. Aunt Claims Family Inherits Debt With The House. True or False?
- Employer walking back on raise and backpay
- Sold stock in 2021 and am being told by some family I needed to pay it in 2021, not by April 15, 2022. Never heard of this. Is it true?
- Living "below your means"-what's it mean?
- Recently Sober and fed up with my debt. Any advice?
- Offered a job and countered for salary increase. They will increase in 6 months. Why the wait?
- Marriage tax or something else?
- Carjacked Uber Driver in NJ Seeking Advice
- Can I skip my 1099-INT while filing my taxes if I made less than 50 cents?
- Family budget - commonly neglected/ omitted items?
- Debit card got stolen for the 2nd time even though I thought I had protected it in every way
- My mom need some guidance
- Horrible Credit, new job with significant raise. Where can I get a short term consolation loan?
- Is it realistically possible to invest in something with only $1,000USD or should I just put it away? If that even makes sense....
- Got scammed out of $4600 I never had. Now I need to pay the bank or it goes to collections.
- Help choosing a credit card in the US
- First time with taxes
- Buying a house before moving to the area.
- Thinking of buying an apt/condo
- Avoiding Capital Gains Tax- Home Selling
- Parents moving in 3 months, I have $1,000 to my name. Is it possible to get an apartment by then?
- How to get started investing smart to at least stay up with inflation? Looking to educate myself
- Moving to a new country(UK) looking for tips on taking the right financial steps
- NQSO Bogus Basis on 1099-B
| Tax Refund Went to Someone Else’s Account Posted: 19 Feb 2022 05:43 PM PST We filed our 2020 tax report in February last year with a tax preparer. All of our bank account and routing info was correct and we signed off on it. 3 weeks later I found out our tax refund was deposited into an account that was NOT ours. Apparently our tax preparer "accidentally" changed our bank account and routing numbers after we signed off on everything. Not just one number. She changed ALL of them. The tax report we received still shows the correct information. Over the past year I have spent hours on the phone with the IRS, the bank the money was sent to, and our tax preparer. None have been helpful. The IRS says to take it up with the bank. The bank says they won't do anything because I'm not the account holder. And our tax preparer has been zero help. What do I do at this point?? This was a huge refund. I've already done 2 refund traces, we got one letter in the mail from the IRS in July 2021 saying they were investigating it. Nothing else since then. I filed form 3911 recently as well. Do I sue the tax preparer? Do I report them for misconduct? This was entirely her fault. [link] [comments] | ||||||||||||||||||||||||
| Posted: 19 Feb 2022 05:44 AM PST My grandma won't be here much longer. My aunt told me she has been trying to get my grandma's credit card debt paid down, because she and my dad will inherit the debt with my grandma's house. We are in Louisiana. I have read on this sub how untrue that is, but I also know LA is very different from the rest of the US on so many levels, legal issues being one of them. So, is this true for LA residents? Would my family really inherit credit card debt when my grandma passed away? Edit: Thank y'all so much for the information! I truly appreciate your time here. I knew I could count on y'all! [link] [comments] | ||||||||||||||||||||||||
| Employer walking back on raise and backpay Posted: 19 Feb 2022 03:24 PM PST I work for a large academic institution in WA state as a research scientist. The nature of my work has changed massively over the past two years as I was catapulted to the forefront of COVID research and had the opportunity to work on some incredibly impactful projects. My pay for the last two years has been laughably low for what we do (although sadly not terrible for the field) and in August 2021 I had my performance review and my raise was accepted by my PI from 47.5K/yr to 62K/yr and a position change from research scientist to Research Coordinator, which accurately reflected the work I do. Paperwork was submitted to the compensation office by our department's HR in November and my raise was supposed to go into effect on my date of employment in December. I received confirmation in early December that the raise had been approved by the budget office. I have written confirmation from HR that it will go into effect and I will be backpayed to the DOE when the raise would go into effect. It's now been almost 2.5 months and they are now saying the compensation office is not approving my request (and the requests of 2 of my coworkers). I like my job a lot, despite the low pay, it has been very beneficial to my future career. I'd like to not have to look for a new job and potentially leverage a counter offer, although I understand that may be the outcome. Is this a violation of labor laws? Especially for a public institution it feels very sketch somehow. Thank you in advance for your help. [link] [comments] | ||||||||||||||||||||||||
| Posted: 19 Feb 2022 07:18 PM PST Had a few 100k in long gains. Sold in Aug 2021. Assuming I just pay those tax gains by April 15 2022 but am hearing I'll get a penalty potentially. Is my family crazy or are they right? Thanks [link] [comments] | ||||||||||||||||||||||||
| Living "below your means"-what's it mean? Posted: 19 Feb 2022 12:06 PM PST I hear the phrase "Living below your means" quite often, and it got me thinking how different of a life people could live on the same percentage of their income. I have friends that drive 100k+ vehicles and friends that drive 5k vehicles, making roughly the same amount of money. Both feel they live below their means. So, what's it to you/what is a good way to define living below your means? Is there a certain percent saved/invested over spent every month? Is it a certain lifestyle? Is it not buying things you can't pay cash for? Or is there a better way to define it? [link] [comments] | ||||||||||||||||||||||||
| Recently Sober and fed up with my debt. Any advice? Posted: 19 Feb 2022 12:45 AM PST As the title says I'm recently sober. I have almost 10 months free from alcohol. I honest to God never thought I would be free from that awful place but here I am. I relocated to Austin, TX from Portland, OR to get sober and to stop being a weak loser at the age of 28. Now I'm 29. Around two months of being here, I put pen to paper about my finances. I accumulated around 50,000 total. Yikes, I know. I ended up paying off about 20,000 in 8 months. I still have a remainder of 30,000ish. I make 41,000 a year as a line cook. I get full benefits, 401k, paid holidays, small bonus at Christmas. I don't start work until 3 pm every day so I was able to start walking dogs, house sitting, donating plasma, and whatever odd jobs. I'm moving into my own place in a couple months sooo I'm nervous. I'm single and have no kids. I've done life style changes to help save such as I dropped smoking, eating out, don't buy expensive clothes, cut my hair short to not spend money getting it done, limit driving (only to jobs and back). I also invested in a MacBook so that I could teach myself how to code. I purchased some courses on Udemy, follow developers on twitters, and watch YouTube vids, and listen to podcasts. I'm actually getting quite good now. I couldn't work a ton at the beginning because I had a legitimate drinking career (14 years). At ten months, I finally don't feel like a freaking dumpster fire thats been put out and restarted a billion times. I would appreciate any advice on how to proceed from this point on. Goals: Financial Freedom, Career change, investments, emergency fund, spending money (mainly for furniture and things for my apartment), passive income I can bring in about 3,000 a month after insurance and taxes are taken out. I have to put aside time to code because I have a major income problem. Expenses: Rent+Utilities: 1,150 Car/Renters Insurance: 170 Cellphone: 123 Groceries: 350 Gas: 120 Student loan principal: 156 Therapy: 60 Debt: Student loans (federal): 28,172 Credit card: 350 Car: 600 Taxes (2022): 1500 (COVID related so I owe, it's awesome) [link] [comments] | ||||||||||||||||||||||||
| Offered a job and countered for salary increase. They will increase in 6 months. Why the wait? Posted: 19 Feb 2022 03:28 PM PST So I got a job offer. I originally got xx as the offer but countered a bit. I then saw in the offer letter that they will increase again in 6 months (I'm guessing it is probation). Is this common? Why not just give what I asked now? How is my job security here? [link] [comments] | ||||||||||||||||||||||||
| Marriage tax or something else? Posted: 19 Feb 2022 05:42 PM PST First time filing married filing jointly (MFJ) this year and out of curiosity, I compared the numbers against filling as singles (not married but filing separate). We noticed our net federal refund is significantly less (almost 3000 dollars) as a married couple compared to pre-marriage. We always thought marriage tax would only kick in for high earners (622k+?) or those with large mortgages, so we were quite surprised to see such a big difference, especially after the "TCJA". Breakdown of the numbers
Looking at the numbers, we think the issue is that we lost an entire standard deduction as a result of the SALT cap, and that led to a 3000 increase in federal tax liability. Is this to be expected, and if we are missing anything? I feel that our situation is pretty standard, dual-income with W2s, a mortgage, and no side business. Most of our families and friends told us that marriage would be a tax reduction and obviously, we are not seeing that. On a related note, what are some of the financial benefits of marriage if both spouses earn similar incomes? Currently, it does not seem like there are many scenarios in which MFJ would come out ahead in our situation. [edit] I want to clarify, the comparison is between MFJ and filing as single (not married filing separate)which we were able to do last year prior to our marriage. [link] [comments] | ||||||||||||||||||||||||
| Carjacked Uber Driver in NJ Seeking Advice Posted: 19 Feb 2022 08:08 PM PST Hi. I was on here two weeks ago trying to get advice. I was doing DoorDash in Brooklyn and got carjacked. The police found the car late last week and the car was retrieved by the owner of the car (I rent.) Here is the issue. I ended up being behind on rent because of that and I am supposed to be current by the 28th. I have my next electric bill due on March 1st. I have renter's insurance past due but that one I can negotiate kind of. Credit card bills I can put on the back burner but those are due early next month. I am waiting for the claims adjuster working with insurance to see if I owe any money or not and if I do owe then I would pay and be able to rent again. However, Monday is a holiday and time is moving fast. I spent the past two weeks kind of feeling depressed because they took my driver's license and social security card and 5 dollars cash I had in the center console. I tried looking for work too but I kept getting denied. I prefer to do the gig economy/multi-app since I was doing that for the past year or 2, since the pandemic. I am in Bergen County. In another r/ they told me to call the local SBA to see if PPP money was still being given out. I am reluctant to do this but I am thinking about seeing if they give out emergency money or one-shot deals at DSS or something but I am not sure how that works and I have had bad luck years ago with DSS in the past so I do not feel like I could rely on them like that. I also thought about going to the closest credit union to see if I can do a loan but idk if I will be approved and the 28th is like a week and change away. I also haven't filed 2021 taxes yet but I figured even if I am qualified for a refund from last year's 1099, I most likely will not get it on time. What would be the best option from here? TLDR: Got carjacked two weeks ago. Waiting to hear from insurance. Went two weeks trying to figure out my moves. Can't find work. Behind on rent. Am I eligible for a PPP loan or any type of loan or emergency money? Thanks. [link] [comments] | ||||||||||||||||||||||||
| Can I skip my 1099-INT while filing my taxes if I made less than 50 cents? Posted: 19 Feb 2022 01:42 PM PST According to my 1099 forms from Charles Schwab, I only made $0.05 on my interest income. My tax service (Tax Hawk) automatically rounds everything up and down to the nearest dollar. So entering in $0.05 into Box 1 (Interest Income) rounds it down to zero. And when I go submit the page, Tax Hawk pops back an error telling me that I gotta enter in an actual Interest Income number. Can I just skip this form? I doubt the IRS is going to care about a nickel in unpaid income. [link] [comments] | ||||||||||||||||||||||||
| Family budget - commonly neglected/ omitted items? Posted: 19 Feb 2022 09:12 PM PST What items do people commonly neglect to include in their family budget? [link] [comments] | ||||||||||||||||||||||||
| Debit card got stolen for the 2nd time even though I thought I had protected it in every way Posted: 19 Feb 2022 11:10 PM PST First time my debit card got stolen it was used in the same state im living in, got the money credited back to me after I reported it and the incident left me feeling paranoid, of how someone could have gotten that info of mine without even having the card, I upped my security on everything and even stopped using my newly requested debit card that I had ordered to replace the old stolen one, I keep this new one locked at all times, 24/7. This new card is only put into one site that I use regularly and that is IT. I didn't use this new card anywhere else at all, I get an email notification today that a "transaction" could not be processed since my card is locked, I didn't try to use the card anywhere so I immediately open the email to see what was up, the card was attempted to be used in a state that is literally on the opposite side of the country. The only benefit this time was that no money was stolen because it was locked. I am more paranoid than the first time because I cannot figure out how someone could have stolen my info again. So now I am wondering how I could have prevented this better? I kept it locked 24/7, I only used it on one website regularly, I had two-factor verification for my account and every measure I could have taken to prevent fraud from happening again to my card, yet it still happened. Has anyone else dealt with the same thing? [link] [comments] | ||||||||||||||||||||||||
| Posted: 19 Feb 2022 06:48 PM PST My mom bought a house with a co-signer. My mom is not up to date with her mortgage payments due to COVID and being unemployed. The co-signer is getting frustrated because she is restricted in purchasing things (home, car) and wants out. My mom asked me to sign, and I said no. She is now stressed out and does not know what to do. She does not want to move because the living expenses elsewhere is high. What would be the best course of action for her? [link] [comments] | ||||||||||||||||||||||||
| Horrible Credit, new job with significant raise. Where can I get a short term consolation loan? Posted: 19 Feb 2022 07:08 PM PST Was making under 50k, have 20k in debt, unemployed for 3+ months and now making over 80k. Credit just above 500 from predatory loans and wasn't working for last 3-4 months and fell behind after failed bankruptcy. What are my options for short term cash loans to pay back family/friends and restart paying unsecured loans? Thank you. Edit: I have bad loans and bad credit. Had a bad couple months and was able to secure a new job. Will eventually be able to recover but am requesting ideas for companies to get small loans to pay back "other" types of money that I owe. Edit 2: I am requesting options/companies to secure ~2k loan within a short period. I have cut out any extra expenses and have just started earning a new salary. I need to secure an immediate short term loan with bad credit but will be able to slowly fix financial situation down the line. [link] [comments] | ||||||||||||||||||||||||
| Posted: 19 Feb 2022 07:32 PM PST I know it's probably pathetic but it's taken me so long to just save up $1,000 between divorce and cancer treatments, bills, etc (I have the worst luck). I want to invest in something if I can or would it just be better to put it away for a rainy day? [link] [comments] | ||||||||||||||||||||||||
| Got scammed out of $4600 I never had. Now I need to pay the bank or it goes to collections. Posted: 19 Feb 2022 08:50 PM PST So, I got scammed by the fake job/fake check scam. I am unemployed to begin with and had no money. I was already selling my things just to get by. Aside from selling absolutely everything I can, and donating plasma, what exactly would you guys do in this situation? I need to get as much as I can before 30 days. It's so unlikely for this to happen. But I need to whittle this down so it's actually payable. I've been applying to jobs like a madman, already froze my credit at all 3 institutions (so the scammers can't fuck me over even worse.) And even changed my passwords for everything. I am never getting that money back, what's done is done and now I gotta handle this the best I can, the best way I can. The only upside is now I know what to look for and avoid when looking for jobs. It's insanely unlikely (ok, not gonna happen) for me to be approved for a personal loan of $4600 with a credit score of 524, when I'm unemployed at 24 years old. But until the 30 days is up I need to exhaust every single option I can. To sell (at desperate bitch prices) I got: Berserk Deluxe edition 1-8 $250 (will sell because there's no supply of this coming in steadily) Heavy bag, boxing gloves, hand wraps, stand all Hayabusa $500 (this is all unused) Corsair dominator ram 32gb $300 (msrp because it's going back to the company.) Mason pearson brush $100 Some watercooling parts $100 at most even if I bundled them together...I've sold things like this before and I know how slow it can move. And then plasma will take time, but it's something... what kinda money am I looking at for this? I won't be depending too much on this idea, but depending on what I could get in 30 days I might do this. Annnd then my PC... which would net me ~3500. It's there...but I need it. So this is the last option. Once I get a job I can rebuild. How would I even sell this? How do you safely sell this in person? I can downgrade to laptop if I sold everything with it. Even then I can baaarely afford to get a laptop. So with all the background info and my half-baked plan out of the way, what else can I do? What are some good ways you've made money in the past? The best thing I could hope for is landing one of the jobs I applied to, but even then...training takes time. [link] [comments] | ||||||||||||||||||||||||
| Help choosing a credit card in the US Posted: 19 Feb 2022 07:00 PM PST I've just received my SSN and can get a credit card but I'm not sure which one would be the best for me. I'm an international student and most of my expenses are on groceries. Would really appreciate some help regarding this [link] [comments] | ||||||||||||||||||||||||
| Posted: 19 Feb 2022 05:07 PM PST Hello everyone. I move to the US - CA as a permanent resident last November. This month I signed an agreement as an independent contractor. I've been reading extensively about taxes and have a fair understanding of the subject. I know I have to set aside about 30% - 33% of my income for quarterly estimate taxes. However, I still have doubts about how to start the process. Do I have to file taxes for nov, dec 2021 and jan 2022 even though I didn't have income in that period? Do I always have to use an app to prepare and file taxes? What free app do you recommend? I estimate I will be earning around 35.000/year and have no dependents. Thank you! [link] [comments] | ||||||||||||||||||||||||
| Buying a house before moving to the area. Posted: 19 Feb 2022 01:39 PM PST Would it be a dumb move to buy a house before moving to, and landing a job in the area? Has anyone done this before? I'm 29M looking to move to Las Vegas from Honolulu. [link] [comments] | ||||||||||||||||||||||||
| Thinking of buying an apt/condo Posted: 19 Feb 2022 08:57 PM PST I make $70k before taxes (salary). 10% of salary goes to 401k account. Only debt I have are student loans ~$25k (pay $200 monthly). Credit score is 770. I have $15k saved up so far for a down payment. I live in Southern California. I'm getting fed up with ridiculous rent prices in LA county. I can't find a nice 1br apartment for less than $2000/month. I've been able to find a a few decent looking apartments/condos for about $350k-$450k with comparable estimated monthly costs to renting. Seems to make more sense to build equity if I can, right? I've never owned property, so I'm very hesitant to make a big decision like this. I'm worried about the unexpected expenses that may come along with owning property. Just looking for general advice on whether this would be a good move for me. I'm happy to answer any questions if I missed any important info. [link] [comments] | ||||||||||||||||||||||||
| Avoiding Capital Gains Tax- Home Selling Posted: 19 Feb 2022 09:49 PM PST May need this explained to me like I am 5, but here is the basic information - I'm going to relocate my CA to PA and sell my house and use that money to buy another house. Years ago, I used my one time exception to avoid Capital Gains. I've lived in and owned this house for just over 2 years, and will be at 3 by the time this all occurs. Am I able to take the profits of this current house and put it towards a new house? Is there a way around Capital Gains or am I stuck with having to pay it? [link] [comments] | ||||||||||||||||||||||||
| Parents moving in 3 months, I have $1,000 to my name. Is it possible to get an apartment by then? Posted: 19 Feb 2022 05:44 PM PST I need a way to get out of this terrible situation I put myself in. Currently unemployed, but applying to jobs like crazy and will hopefully have 2 months of money saved by the time they move. I am also a student so come August I will need to take out a loan to live on campus and for schooling. No idea how any of this works, but I need financial advice on how to get myself out of this. EDIT:: I meant I will be getting a roommate and working during these three months. I'm assuming you don't need to sign for a lease if you join someone looking for a roommate? [link] [comments] | ||||||||||||||||||||||||
| How to get started investing smart to at least stay up with inflation? Looking to educate myself Posted: 20 Feb 2022 01:15 AM PST Hello, I've just discovered this sub as I'm looking to up my financial managing a bit. I think what I'm looking for the most is a place to start informing myself with some structure without drowning under the info. I'm in Belgium, saving up slowly and not planning to buy a house in the next 5 years probably. I work part-time for a big brand and part-time freelancer. Both as a videographer. With inflation, I'm afraid my savings will just depreciate, but knowing close to nothing, I dont want to invest all eggs in one basket and do it stupidly. I was thinking to invest in the stock market or perhaps set up a tiny house and rent it with Rbnb as I could use terrain on my mother's property. Thanks in advance for every bit of help and insight! I appreciate it! [link] [comments] | ||||||||||||||||||||||||
| Moving to a new country(UK) looking for tips on taking the right financial steps Posted: 19 Feb 2022 09:27 PM PST Hi folks, I am in my late 30s and have now gotten a chance to move to UK(in the next 3-4 months). I am married and have 2 cats and currently based out of India. I am looking on specific advice on how to quickly get to a comfortable lifestyle and start building towards my retirement corpus. Neither me nor my SO drink or smoke. Aside from the basic expenses like food, rent, utilities, etc our main expenses are likely to be on our pets, eating out, or our addictions(Modern board games for me - although i am fairly good at curbing my buying impulses; and clothes shopping for her). Once we start to settle down, we might also be looking at regular vacation/travel expenses. Initially, I expect to be the sole breadwinner in the family since my wife(who does want to continue working) works in a financial sector wherein her experience might not be useful in a new country. Her educational background is in a completely different field so that doesn't help either. She is not too keen on going back to study, but will consider it if that's the only option to get her a well paying job. While I am keen on getting generic advice from the hive mind, specifically I am looking for tips regarding these points:
My expectation is that I would need to break into some of my current savings to fund this move at least for the initial set of expenses, until my UK salary starts coming in, through which, in the long run, I can expect to build a much better savings. Thanks in advance to everyone who read through that wall of text and more so to anyone who drops in their two cents. [link] [comments] | ||||||||||||||||||||||||
| Posted: 19 Feb 2022 09:26 PM PST So I finally got my 1099-B from the 3rd party that handles my NQSO and I think the basis is bogus. In May 2021 I exercised 1500 shares from two grants for $10.69. I wrote my company a check for the estimated taxes, and the tax payment and $16,046.15 shows up on my paystub. I then sold a few days later taking a small loss. My W-2 Box 12 "V" also reflects the $16,046.15 But the 1099-B is confusing. Grant 1 - 1100 shares Grant 2 - 400 shares Based on previous years, I am almost 100% certain that my tax basis is $16,046.15. I sold something similar in 2019 and the 1e box was the exercise price * number of shares (~$3500 for that transaction). But now when I put my number into Turbotax, the "1e" box is supposed to be my basis. I think box "1e" is actually the small transaction fee I paid to the 3rd party to process the transaction, but I'm not 100% certain. I also don't want to screw this up and owe the IRS bigly. I'm going to ask HR about this next week, but is there some other way (maybe Box 12 V from the W2?) that I can validate my basis? I used Turbotax's "ask an expert" and they were clueless. Also, when entering the information into Turbotax there is a checkbox for "The cost basis is incorrect or missing", should I check that? [link] [comments] |
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