Tax question :) H&r Block people??

Question

ok so,My husband Thinking he was HELPING US OUT for needing money during the year changed his Exemptions to 7.
Only paying in 1011$ in federal Taxes this year. 290.00$ state.

Now I run a in home daycare ( we have 2 kids and 1 on the way ourselves)

I normaly pay in my 300~500.00 at the end of the year.

now is it a pipe dream to think we'll be getting a refund back of any kind?

Or is it possible?
Should I start beating the crapola out of the old husband for changing the Exemptions now? Or later hehe ?)

THANKS!

He made a total of 39,164$

I made 1700$

his exemptions were 7 didn't take any Exemptions in state Thats what his W2 says.

Answer 1

Check out your exemptions and deductions. You may still get a refund, although it will be smaller. Due to my income, low, plus having two children, we qualified for the Earned Income Credit, plus two additional child tax credits. We ended up with a bigger refund than what we paid in.

BTW, I try to avoid H & R Block, or any other storefront tax preparation place. Most of those people just go through a two-week course, then use a simple computer program. The same program you can buy at Staples and such. You can also use Turbo Tax online for free. That's what I did. Check it out.
https://turbotaxweb.turbotaxonline.intuit.com/open/registration/Start.htm?productid=512&customerSource=4149200000

Answer 2

Well, doesn't look good for a refund, unless he had overpaid by a lot earlier in the year before changing his exemptions. Can't tell anything from the $1011 that was withheld without knowing what his income was, and how much you made from the daycare - on yours you'll have not only income taxes, but self-employment tax also.

The only way to find out for sure is to prepare your tax return. Good luck.

Answer 3

You either pay it all year (7 exemptions) or you pay it in April. Everyone has to pay, except fort he illegal alien criminals.

However, 2006 is done - just change the W-4.

But, NEVER, NEVER, NEVER go to H&R Block. We HAD to take their class to be in compliance. We knew more than the teacher. We had to correct him on numerous things. They basic class has important areas that indicate that the topic is "beyond the scope of this course." Besides, they are really expensive for what you get.

They had a standard grade that the future hires had to make to be hired. When they realized that they wouldn't get enough candidates, they LOWERED that standard and hired people that flunked the final. I have heard NUMEROUS horror stories of problems and illegal advice (e.g., income discovered the next year and they were told to forget about it instead of amending the return.)

I wouldn't send someone to Block if they were my enemy!

Answer 4

With that income and that tiny amount of withholding you are looking at a WHOPPING tax bill this year -- $2,000 or more in all likelihood. There will be penalties and interest due for under withholding as well.

Answer 5

Start beating!!

....also...if you owe over $1000 and your withholding wasn't high enough, the IRS will hit you with a penalty.