I started working on my taxes Sunday evening. No Superbowl for me! I had almost everything and wanted to save myself some hours of data entry.
I inputted my W-2 information, a 1099 and all of the other miscellaneous information the banks send you. I am still missing the big one. The statement for the Unemployment office. I elected not to have the taxes taken out of every check.
I received unemployment once before and I remember having the taxes taken out automatically with each check. I should have elected, and normally I would have to avoid any headaches or surprises when tax time rolls around.
I am now afraid I will owe a small bundle in taxes. The federal tax return estimate is respectable a smidge over $6,000. Wouldn't that be a lovely boost to replacing my emergency and life happens fund?
What are you doing with your income tax refund? Are you applying it to savings? Paying off bills? Got a special thing in mind to buy?
I know my luck however and that will come down, way down once I input the unemployment money I received on my taxes.
The disturbing part is that I have not received the form or anything from the Unemployment Office. I now live in another state but that should not affect anything. My forwarding address is still in effect.
I will give it a couple of more days to arrive before I call them directly.