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LisaW
Time for me to FLY!
Member since 5/05 13199 total posts
Name:
Did I ever tell you that I hate people?
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Statement of Tax Overpayment
Just got one of these in the mail...
It says its for 2006...This is not a bill or notice of a refund
What is it?  
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Posted 1/26/08 10:44 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Stacey1403
Where it all began....
Member since 5/05 24065 total posts
Name:
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Re: Statement of Tax Overpayment
I got on once too. I think it mean squat!
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| Posted 1/26/08 10:44 AM |
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NewYawkah
2012--A year of new beginnings
Member since 5/05 4402 total posts
Name:
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Re: Statement of Tax Overpayment
I think it might be what you overpaid last year on your state taxes... (and then got a refund on) but I'm not sure!
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| Posted 1/26/08 10:57 AM |
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LisaW
Time for me to FLY!
Member since 5/05 13199 total posts
Name:
Did I ever tell you that I hate people?
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Re: Statement of Tax Overpayment
Posted by Stacey1403
I got on once too. I think it mean squat!
damn! Was hoping for some $$$$ 
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| Posted 1/26/08 10:57 AM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: Statement of Tax Overpayment
WE just got them too. Two of them. ONe has my full name with DH's name, the other has my name with initial, with DH's.
I'll just give them to my accountant to figure it out.
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| Posted 1/26/08 11:34 AM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: Statement of Tax Overpayment
lucky you... i just got a bill 
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| Posted 1/26/08 11:54 AM |
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Laura1
Fun in the Snow!
Member since 11/06 4512 total posts
Name:
Laura
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Re: Statement of Tax Overpayment
I just give it to the accountant....
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| Posted 1/26/08 12:03 PM |
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LMFitz
life is good
Member since 5/05 2013 total posts
Name:
L
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Re: Statement of Tax Overpayment
i get them every year - but have learned that it doesn't mean that there's more money coming my way.
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| Posted 1/26/08 12:24 PM |
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alisonggg
Cutie
Member since 3/06 4749 total posts
Name:
a
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Re: Statement of Tax Overpayment
Posted by chmlengr
WE just got them too. Two of them. ONe has my full name with DH's name, the other has my name with initial, with DH's.
I'll just give them to my accountant to figure it out.
we got ours with my name and SS # and just his name (no SS) thought that was weird
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| Posted 1/26/08 12:27 PM |
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antoinette
boy mamma
Member since 5/05 2975 total posts
Name:
Antoinette
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Re: Statement of Tax Overpayment
got that today not sure what to make of it 
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| Posted 1/26/08 1:44 PM |
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dee7772
My Loves
Member since 5/05 4852 total posts
Name:
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Re: Statement of Tax Overpayment
I got one too - have no idea
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| Posted 1/26/08 1:56 PM |
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dawn0717
LIF Infant
Member since 5/05 235 total posts
Name:
Kim
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Re: Statement of Tax Overpayment
Posted by alisonggg
we got ours with my name and SS # and just his name (no SS) thought that was weird
Mine too. Usually it has both of our SS#"s. very odd
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| Posted 1/26/08 2:36 PM |
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rose825
Best Friends
Member since 6/05 10228 total posts
Name:
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Re: Statement of Tax Overpayment
your accountant will need it to do your 2007 taxes, I dont think you'll get money back though. 
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| Posted 1/26/08 2:55 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Statement of Tax Overpayment
It means you got a refund last year. It's for your accountant so you can pay taxes this year on the refund you got last year.
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| Posted 1/26/08 3:39 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Statement of Tax Overpayment
Posted by charon54
It means you got a refund last year. It's for your accountant so you can pay taxes this year on the refund you got last year.
yep..
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| Posted 1/26/08 4:17 PM |
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Kissy331
My two miracles!
Member since 5/06 17826 total posts
Name:
Kristen
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Re: Statement of Tax Overpayment
Oh great! Just got one today in my name too!!! How the heck does this happen???
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| Posted 1/26/08 4:22 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Statement of Tax Overpayment
Posted by Blu-ize
Posted by charon54
It means you got a refund last year. It's for your accountant so you can pay taxes this year on the refund you got last year.
yep..
Isn't it amazing that a refund from overpayment of taxes is considered income & therefore taxable?
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| Posted 1/26/08 4:24 PM |
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jerrysgirl
I love my hot dog!!
Member since 6/06 5357 total posts
Name:
E & J
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Re: Statement of Tax Overpayment
it means that you if you itemized your deductions in 2006 that you have to pay tax on the refund you received in 2007. bring it to your accountant.
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| Posted 1/26/08 4:41 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Statement of Tax Overpayment
Posted by Blu-ize
Posted by charon54
It means you got a refund last year. It's for your accountant so you can pay taxes this year on the refund you got last year.
yep..
WHAT! we got 2 of them also
I have to pay taxes on the refund???
I have never heard of that before
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| Posted 1/26/08 7:29 PM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Statement of Tax Overpayment
Posted by Beth1210
Posted by Blu-ize
Posted by charon54
It means you got a refund last year. It's for your accountant so you can pay taxes this year on the refund you got last year.
yep..
WHAT! we got 2 of them also
I have to pay taxes on the refund???
I have never heard of that before
yes, because in 2006 if you itemized, you deducted all of your state and local taxes. since you got some of it back in a refund on your state return, you have to "pay back" the deduction that you took.
Message edited 1/26/2008 7:42:41 PM.
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| Posted 1/26/08 7:42 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Statement of Tax Overpayment
yes, because in 2006 if you itemized, you deducted all of your state and local taxes. since you got some of it back in a refund on your state return, you have to "pay back" the deduction that you took.
I guess I need to speak to the accountant they did them- b/c in all my years of filing- I have gotten this
he did last years for both of us and the 2004 return for my DH- both of which we got overpayments for
great
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| Posted 1/26/08 7:46 PM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Statement of Tax Overpayment
Posted by Beth1210
yes, because in 2006 if you itemized, you deducted all of your state and local taxes. since you got some of it back in a refund on your state return, you have to "pay back" the deduction that you took.
I guess I need to speak to the accountant they did them- b/c in all my years of filing- I have gotten this
he did last years for both of us and the 2004 return for my DH- both of which we got overpayments for
great
if you always used the same accountant, they knew about it - even if you didn't give them the statement. most tax programs just roll that information over into the next year.
if you have last year's 1040 nearby, the refund goes on page 1, towards the top with the other income.
ETA: keep in mind you guys might be taking the standard deduction, so it won't matter in that case.
Message edited 1/26/2008 7:49:40 PM.
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| Posted 1/26/08 7:49 PM |
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LInative
LIF Adult
Member since 11/05 1977 total posts
Name:
Cassie
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Re: Statement of Tax Overpayment
Yes any refund is taxable income in the year that it's issued. Gotta love it...
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| Posted 1/26/08 7:50 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Statement of Tax Overpayment
if you always used the same accountant, they knew about it - even if you didn't give them the statement. most tax programs just roll that information over into the next year.
if you have last year's 1040 nearby, the refund goes on page 1, towards the top with the other income.
ETA: keep in mind you guys might be taking the standard deduction, so it won't matter in that case.
no, we don't take the standard deduction b/c DH is 1099
so it makes more sense now- since in 2005 we owed in 2004 and 2006 we got a refund
and I have a feeling we are getting a refund this year again-
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| Posted 1/26/08 8:09 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Statement of Tax Overpayment
Usually your accountant has the records from the year before and just inputs that into his program. I don't remember ever receiving a document, but DH says we have before.
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| Posted 1/26/08 8:36 PM |
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