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@2Papa wrote:Refund? Whatโs that?
Ditto - have never gotten one, but that is a good thing.
REFUND
Being retired my tax refund remains fairly constant and much simpler than previous years - based on planning. When the date for mandatory IRA withdrawals began I created a simple spread sheet to estimate my taxes (the 1040 math) so I could plug in numbers and adjust the IRS RMD (required mandatory distribution) that I take sometime in the last two months of the year.
Mine went "into the pot". Same as it always has.
This is the first year that I filed while I was retired. But I followed same process as for many years. I set up a budget at the start of the year and I don't plan on having a "blow out" by getting a tax refund. I've always tried to get the tax withheld to be about equal to my expected tax due.
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