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The worst part about taxes is that I never know if I did them correctly since the feedback loop is up to 3 years. Just shoot them off into the ether and cross y
by skizm 8y ago
The worst part about taxes is that I never know if I did them correctly since the feedback loop is up to 3 years. Just shoot them off into the ether and cross your fingers you don't get a giant bill next year.
The first time I filed, I had not updated my W4 soon enough after moving and owed NYC like $4k in taxes which came up around 18 months after I filed. The following year the software I was using said I owed around $10k in taxes, which I was pretty sure was wrong, so I went to an accountant and they did it for me and said I owed nothing. Even after all that, there is no way to know who is right until 3 years from now (IRS theoretically doesn't look back more than 3 years for individual returns).
- jraines 8y agoIdle NY tax thought -- it's wild that you have to file a NY return just because the company you work for is based there -- seems weird that other states put up with that (not that it takes revenues away, but seems like it forces an additional paperwork/accounting burden on them)
- jmole 8y agoyou don't have to file a NY return if you didn't live in NY during the tax year.
- rhcom2 8y agoI don't think that's true. I've never lived in NY but commuted in from NJ for multiple years and always had to file both states.
- WkndTriathlete 8y agoI don't know if it's true for NY, but many people live in western Wisconsin and commute to St. Paul / Minneapolis in Minnesota, and none of those people are required to file income tax returns in Minnesota. They file only Wisconsin returns.
- deleted 8y ago[deleted]
- deleted 8y ago[deleted]
- reflect 8y agoNY makes you file based on the source of the income not your residency, "You must file Form IT-203 if you: were not a resident of New York State and received income during the tax year from New York State sources", also NYC has it's own tax rate and form, as does Yonkers.
- birdmanjeremy 8y agoThis may not be entirely true. I lived in NC full time and filed taxes in CA and NY (as well as other states). Nexus is the term our accountant used.
- rhodysurf 8y agoEvery state does this. My partner lived in RI and worked in Boston and had to file in both states