Among Friends

[Hooty]

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@DCAnnie2004 wrote:

I usually had a family friend, who is an accountant, do my taxes for me each year. My situation is very easy -- I have no dependents and still rent in a large city.

Do you think I can do my own taxes?  Any tips?

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If you can read and write and add and subtract, you can do your taxes, LOL  .......  you can do a 1040EZ, and it is a piece of cake!

Good Luck!

[software]

You really only need a professional if your situation changed from 1 year to the next.   It's good to have a pro look at least once every 5 years.    

Look at the instruction book online at irs dot gov to see if there are any new laws or deductions that can apply and dive in.    There is usually a summary in the first few pages.   I would suggest you do the tax returns, then let it get cold and do it again to be sure there are no errors.

@DCAnnie2004

[VaBelle35]

Yes, you should do your own taxes.  

I, too, was a long time 1040EZ user until I bought my home.  I went to H&R Block for several years, paid a lot of money, and had a few problems the last 2  years I went to them.  

I use Turbo Tax online.  I get a discount through my credit union (and they are on Mr. Rebates).  

It automatically populates my info from the previous year, runs a side-by-side of the previous year as you go along.

My taxes are easy.  One W2, one Mortgage Statement, one HSA statement, personal property and car registration and my charitable deductions and I'm done.

I've already filed for this year and my State tax was accepted.  I'm told Federal is delayed right now, but I usually get my money direct deposited in a matter of days.

[VaBelle35]

Delayed Refunds

The IRS expects to issue more than nine out of 10 refunds in less than 21 days. However, the Protecting Americans from Tax Hikes (PATH) Act mandates the IRS hold refunds on tax returns claiming the EITC or the Additional Child Tax Credit (ACTC) until mid-February. The change helps ensure that taxpayers get the refund they are owed by giving the IRS more time to help detect and prevent tax fraud.

The IRS will begin releasing EITC and ACTC refunds starting Feb. 15, but cautions taxpayers that these refunds likely will not start arriving in bank accounts or on debit cards until the week of Feb. 27. The IRS wants taxpayers to know it will take additional time for their refunds to be processed and for financial institutions to accept and deposit the refunds to bank accounts. The IRS reminds taxpayers many financial institutions do not process payments on weekends or holidays, which can affect when refunds reach taxpayers. For EITC and ACTC filers, the three-day holiday weekend involving President’s Day may affect their refund timing.

Where's My Refund? ‎on IRS.gov and the IRS2Go phone app will be updated with projected deposit dates for early EITC and ACTC refund filers a few days after Feb. 15. Taxpayers will not see a refund date on Where's My Refund? ‎or through their software packages until then. The IRS, tax preparers and tax software will not have additional information on refund dates, so Where’s My Refund? remains the best way to check the status of a refund.

[Shawnie]

Yes you can.  I have done mine all my life.  When i need a professional I will know it.  

[SaRina]

Mine is relatively easy and I've been using Turbo Tax for a few years. However, I'm finding that TurboTax makes you go through too many screens and actually takes longer than my doing it manually on the tax form, which doesn't have nearly as many questions. I did my 2016 taxes on TurboTax already, but printed out and completed the tax form as a double-check.

[Financialgrl]

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@DCAnnie2004 wrote:

Thanks @Financialgrl. I actually live in Northern Virginia.

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@DCAnnie2004: AARP prepares both federal and state taxes free and you must agree to allow efile your taxes.  I assume it's still true (I left in 2010) but AARP tax aid sites are staffed with volunteers that have been taught tax law for the type 1040 and schedules they are approved to prepare.  In 2010 we took 57 hours.   AARP partners with the IRS to provide the service geared more toward the AARP age groups (we did everyone unless they had taxes out of our scope) and in order to sit in front of the public we were required to take/pass an IRS exam. 

[Lovingq]

We too have been using Turbo Tax and our incentive was HR Block raising their price on us each year and when it reached $200 we said that's outragesous especially since they are not CPA's although our preparer was retired military who we liked a lot and looked forward seeing each year. This year though I will be seeing a CPA for stepmom's estate and for our taxes too.  I expect to be charged alot but next year it's back to using Turbo Tax.  

[SeaMaiden]

I do Turbo Tax. It is easy. You just answer the questions, it does all the work.