# Did Anyone get Money BACK on Tax Returns?



## AnnaTexasTaxi

I’m using Turbo Tax and thought I would get a significant tax return. I finally finished filling things out and didn’t have to pay any taxes but didn’t get anything back. Is anyone else getting a tax refund? If so, how?


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## Older Chauffeur

AnnaTexasTaxi said:


> I'm using Turbo Tax and thought I would get a significant tax return. I finally finished filling things out and didn't have to pay any taxes but didn't get anything back. Is anyone else getting a tax refund? If so, how?


Did you have W2 employment along with rideshare, and/or did you pay estimated quarterly tax payments? If you didn't pay in over the year, one way you could get a refund would be if you are eligible for credits like the Earned Income Credit.

Also, if you made profits of $400 or more, the self employment tax would take an additional 15.3% in addition to any income tax.

Disclosure: I'm not a tax professional.


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## SEAL Team 5

Did anyone get money back on a tax return? Actually, that's what a tax return is. A tax return is the return of money from the IRS for overpaid taxes throughout the year. Either by employer withholding taxes or self employed quarterly estimated taxes.



AnnaTexasTaxi said:


> I finally finished filling things out and didn't have to pay any taxes but didn't get anything back.


Did you pay any income tax throughout the year? For example; Are you an employee and taxes were withheld from your check each pay period? Did you make estimated payments to the IRS throughout the year for any 1099 income?

You first have to pay taxes to get a refund of taxes.


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## UberTaxPro

SEAL Team 5 said:


> Did anyone get money back on a tax return? Actually, that's what a tax return is. A tax return is the return of money from the IRS for overpaid taxes throughout the year. Either by employer withholding taxes or self employed quarterly estimated taxes.
> 
> Did you pay any income tax throughout the year? For example; Are you an employee and taxes were withheld from your check each pay period? Did you make estimated payments to the IRS throughout the year for any 1099 income?
> 
> You first have to pay taxes to get a refund of taxes.


"You first have to pay taxes to get a refund of taxes." Unless you qualify for a refundable tax credit like the Earned Income Tax Credit (EIC) or a few others. You could pay 0 tax and still get money "refunded" to you.


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## Older Chauffeur

SEAL Team 5 said:


> Did anyone get money back on a tax return? Actually, that's what a tax return is. A tax return is the return of money from the IRS for overpaid taxes throughout the year. Either by employer withholding taxes or self employed quarterly estimated taxes.


A common error-

tax re·turn
ˈtaks rəˌtərn/
_noun_

a form on which a taxpayer makes an annual statement of income and personal circumstances, used by the tax authorities to assess liability for tax.

A *tax refund* is the difference between *taxes* paid and *taxes* owed. Each year (or each quarter, in some cases) a taxpayer submits a *tax* return that calculates his or her federal income *taxes* owed. The taxpayer then submits the *tax* return electronically or via mail and the IRS reviews the information.


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## sadom4292

I just filled and had to pay 92$ to federal and got 154$ refund from state all this after EIC


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## IERide

Got several thousand back..
Had Rideshare income, small business income and W2 income from the wife..


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## Mars Troll Number 4

After making quarterly payments...

A few w2 paychecks for the last few months of the year.


I ended up owing money, but I always have taxable profit driving a taxi.


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## zandor

sadom4292 said:


> I just filled and had to pay 92$ to federal and got 154$ refund from state all this after EIC


That's pretty good. Personally I consider owing about $50 ideal. If you get a refund you gave the government an interest free loan. Better to pay less over the course of the year and collect interest yourself. Worse, being owed a fat refund makes you a target for tax refund thieves. It happened to a guy I used to work with. W2 employee, but kids + mortgage + etc. he was due to get a few grand back. Someone got his & his wife's info and filed a fraudulent return in their names and the IRS sent them money. Took him months to sort out. If you owe at least you're not out a bunch of cash, plus you're less likely to be a target. As messed up as it sounds, the tax refund thieves more or less did the fake return correctly. I suppose that makes sense. A correct return is less likely to get flagged for review/audit. W2 employees can't do much about it if they're already claiming the maximum number of allowed exemptions and don't have enough business or investment income to make up for the mortgage, state/local tax, kid deductions, etc., but if you're making estimated payments and put in a little work you can usually get closer. Also, best to file as soon as you can, again due to refund thieves. If my former colleague had filed in February he wouldn't have had a problem.


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## RamzFanz

AnnaTexasTaxi said:


> I'm using Turbo Tax and thought I would get a significant tax return. I finally finished filling things out and didn't have to pay any taxes but didn't get anything back. Is anyone else getting a tax refund? If so, how?


Just for your knowledge, too many miles and other expenses deducted can mean less money returned. If you play with the milage in the software, you can see this. You can wipe out your EIC and other credits.

I personally would NEVER play with my milage, this is for informational purposes only.



zandor said:


> Also, best to file as soon as you can, again due to refund thieves. If my former colleague had filed in February he wouldn't have had a problem.


I press send on Feb 1. We had a $17,000 refund this year, biggest ever. Wasn't my idea. Wife likes big refunds.


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## LowIQCrazyMika

sadom4292 said:


> I just filled and had to pay 92$ to federal and got 154$ refund from state all this after EIC


How? I had to pay $522 for IRS and Uber was the only income that I had and was just over $20k total for the whole year before expenses


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## SEAL Team 5

LowIQCrazyMika said:


> How?


EIC, earned income credit.


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