General Discussion
In reply to the discussion: I'm a CPA with a small tax practice [View all]underpants
(182,733 posts)on doing their state returns - due May 1.
While the general assembly is in session there could be changes to offset the Fed changes. I'm hearing $220 for couples and $110 for singles but there's no current immediate effect written into the proposals.
My wife and I both have accounting degrees but she's better so she usually does the taxes. We try to balance it during the year so we don't have a big swing either way and pay or get a refund. We tend to do pretty good but last year I changed withholding and was paying way too much - this may work out for us now but I'm not sure. I also had two months of unemployment on top of a severance (pretty sweet deal really) so I'm not sure how that will work out. I didn't have taxes withheld from the unemployment because I wasn't sure how long I'd be out of work.
The messaging on the tax bill was a mess. From them trying to promote it to the news informing people what was coming. Sure there wer articles for those who stay abreast of these sorts of things but for most people it's going to be like stepping on a rake.