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Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.

 
Eddie
User ID: 75550376
United States
02/10/2019 04:17 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Wife just did ours the other night and we almost nailed it this year, total combined refund state and federal about 200.00. So yea they still got to keep a little during the year but we damned near zeroed them, my goal is to exactly break even every year.

Screwed up in 17 and got back a few grand, vowed never again.
 Quoting: William Money


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Sigh....

How about explain it like I asked and not be a fucking dick about it.

Thanks

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846
Eddie
User ID: 75550376
United States
02/10/2019 04:19 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Wife just did ours the other night and we almost nailed it this year, total combined refund state and federal about 200.00. So yea they still got to keep a little during the year but we damned near zeroed them, my goal is to exactly break even every year.

Screwed up in 17 and got back a few grand, vowed never again.
 Quoting: William Money


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Sigh....

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846


Sigh.....

How about explain it to me like I asked and not be a Dick about it.

Thanks
Mr. N

User ID: 77329618
United States
02/10/2019 04:23 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Income tax payers are ignorant slaves. Simple as that.


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Last Edited by Mr. N on 02/10/2019 04:24 PM
3643297

User ID: 76832232
United States
02/10/2019 04:25 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Wife just did ours the other night and we almost nailed it this year, total combined refund state and federal about 200.00. So yea they still got to keep a little during the year but we damned near zeroed them, my goal is to exactly break even every year.

Screwed up in 17 and got back a few grand, vowed never again.
 Quoting: William Money


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Sigh....

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846


And shorting yourself on take home pay throughout the year, meaning you may be not paying down your mortgage or credit card debt when you could save interest by doing more of that during the year if you had more take home pay.

Last Edited by 3643297 on 02/10/2019 04:26 PM
Eddie
User ID: 75550376
United States
02/10/2019 04:38 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Wife just did ours the other night and we almost nailed it this year, total combined refund state and federal about 200.00. So yea they still got to keep a little during the year but we damned near zeroed them, my goal is to exactly break even every year.

Screwed up in 17 and got back a few grand, vowed never again.
 Quoting: William Money


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Sigh....

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846


And shorting yourself on take home pay throughout the year, meaning you may be not paying down your mortgage or credit card debt when you could save interest by doing more of that during the year if you had more take home pay.
 Quoting: 3643297


Mortgage is paid off just this last month. Will be using a portion of the return to pay off 3 of 5 loans. How is this a bad thing? And what about the free loan to the gov..... What is that in reference to?
Anonymous Coward
User ID: 76141856
United States
02/10/2019 04:39 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Except he promised we would be paying lower taxes. We are not. He just created the illusion we were to make stupid people happy. Most were not convinced by his lies and knew.
 Quoting: Anonymous Coward 77010701




In my household (a family of 3) we paid less taxes throughout the year (everyone with a paycheck got this and saw more of their money in every paycheck) and we got a larger refund at the end of the year..

I'd say 99 out of 100 people whining still paid less taxes overall you just do not understand how things work now.
 Quoting: Anonymous Coward 77225135


I think if anyone has kids, they got a bigger refund due to the child credit going from $1K per kid to $2k.
Anonymous Coward
User ID: 72335146
United States
02/10/2019 04:50 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Income tax payers are ignorant slaves. Simple as that.


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 Quoting: Mr. N


Cool..but how do we go about not paying an income tax?

If I file tax exempt and not have income taxes taken out of my paycheck, and then subsequently not file my taxes by April 15th, won't the IRS come knocking?
3643297

User ID: 76832232
United States
02/10/2019 04:55 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
...


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Sigh....

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846


And shorting yourself on take home pay throughout the year, meaning you may be not paying down your mortgage or credit card debt when you could save interest by doing more of that during the year if you had more take home pay.
 Quoting: 3643297


Mortgage is paid off just this last month. Will be using a portion of the return to pay off 3 of 5 loans. How is this a bad thing? And what about the free loan to the gov..... What is that in reference to?
 Quoting: Eddie 75550376


It means you paid more than you owed during the year, unnecessarily, giving the government the free use of your money without them paying you interest for it.
You paid interest on those 5 loans but would have accrued less interest and could pay them off sooner if you’d paid more against them during last year and not had to wait until this year for the refund of the tax you overpaid last year.
Eddie
User ID: 75550376
United States
02/10/2019 05:01 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
...


Sigh....

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846


And shorting yourself on take home pay throughout the year, meaning you may be not paying down your mortgage or credit card debt when you could save interest by doing more of that during the year if you had more take home pay.
 Quoting: 3643297


Mortgage is paid off just this last month. Will be using a portion of the return to pay off 3 of 5 loans. How is this a bad thing? And what about the free loan to the gov..... What is that in reference to?
 Quoting: Eddie 75550376


It means you paid more than you owed during the year, unnecessarily, giving the government the free use of your money without them paying you interest for it.
You paid interest on those 5 loans but would have accrued less interest and could pay them off sooner if you’d paid more against them during last year and not had to wait until this year for the refund of the tax you overpaid last year.
 Quoting: 3643297


I learned about a year ago that paying the minimum monthly wasn't thge best way to go. It took me a year to go from 150% utilization to 28% utilization. We recently put a new roof on the house and that will be a pain for awhile, but I will never pay the minimum again....and will aim to payoff in the "no interest" window for any future buys.Thas a good rule of thumb people should learn. I never had anyone teach me about finances. Learning this all as I grew up and became a father and husband. If we could get to a point where its 0 owed/ 0 refund that would be great. The state of oregon is a bitch with the taxation....I always owe state even if I get a federal refund.
Educated tax payer
User ID: 77063650
United States
02/10/2019 05:03 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
My taxes would have been $2000 more for the year 2015 for what I made in 2018. I realized the taxes being taken out were not sufficient early in 2018 and had more taken out. This is the reason people are owing taxes. No foresight or planning for most people.
Mr. N

User ID: 77329618
United States
02/10/2019 05:04 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Income tax payers are ignorant slaves. Simple as that.


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 Quoting: Mr. N


Cool..but how do we go about not paying an income tax?

If I file tax exempt and not have income taxes taken out of my paycheck, and then subsequently not file my taxes by April 15th, won't the IRS come knocking?
 Quoting: Anonymous Coward 72335146


My door knocker has been quiet for 30 years. Just sayin' it can be done and is being done by those who carry big enough cayhunas.
Anonymous Coward
User ID: 72335146
United States
02/10/2019 05:10 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Income tax payers are ignorant slaves. Simple as that.


[link to www.youtube.com (secure)]
 Quoting: Mr. N


Cool..but how do we go about not paying an income tax?

If I file tax exempt and not have income taxes taken out of my paycheck, and then subsequently not file my taxes by April 15th, won't the IRS come knocking?
 Quoting: Anonymous Coward 72335146


My door knocker has been quiet for 30 years. Just sayin' it can be done and is being done by those who carry big enough cayhunas.
 Quoting: Mr. N


Good for you! I sort of envy you right now.

My fear is getting that knock on the door and IRS man with more guns than me telling him I owe my back taxes plus accrued interest which would wipe me out financially.
REYMEGA TRUTH

User ID: 76678898
United States
02/10/2019 05:11 PM

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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
People complain about low tax rates but say nothing about taxation without representation.
GOD BLESS AMERICA
Anonymous Coward
User ID: 8918720
United States
02/10/2019 05:21 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Wife just did ours the other night and we almost nailed it this year, total combined refund state and federal about 200.00. So yea they still got to keep a little during the year but we damned near zeroed them, my goal is to exactly break even every year.

Screwed up in 17 and got back a few grand, vowed never again.
 Quoting: William Money


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Because, it's exactly what it is, a refund. Your given money back that belongs to you. It's not like you were a good citizen, here you go, were gonna cut you a check. Every pay period taxes are deducted from your pay. Say you got a 5200 dollar refund, if your paid bi weekly 26 checks a year you're missing out on 200 dollars a pay period. The logic behind it is, you could literally take that 200 every paycheck your missing out on and invest it into some kind of savings or help pay down debts that acrue interest/ cause your actually loosing money. So the people that use there return to pay down debt that carries any kind of interest are doing it all wrong
Rabbit In The Hat

User ID: 77047002
United States
02/10/2019 06:11 PM

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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
My husband made more money this year. Less was taken out of his weekly paychecks & we got more back with our return this year.

Most people are seeing bigger paychecks because less is taken out by the government. I’m not sure why some are having a difficult time comprehending how this works.
Savvy Buyer!

User ID: 72544035
United States
02/10/2019 06:13 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Trump let you keep more money every paycheck.
Many probably pissed it all away.

With that, less taxes were paid to the government for the year.
Meaning many will have smaller refunds, (But you had more money throughout the year) or may owe (And you should have saved).
The smart people set money aside, the less educated will figure it out with next years returns.



I am trying to make this as easy as possible to understand, and will take your questions over the next days, but I will have to ask your state, what you made, what was withheld and your filing status if you want me to look a little more into your case.


Loaning money to the government in the form of tax refunds is never a wise idea as you see ZERO interest paid to you on your loan to the government.
Extra money throughout the year COULD have helped you pay down debts faster, but many only know SPEND SPEND SPEND.
I due time, those with poor educations may catch on to seeing what Trump did that will be in effect even after he leaves office, even if reelected in 2020.

IF you were wise enough to pay down/off say, credit card debt, you will realize even more money in YOUR pocket when you are not paying credit card interest fees.





I am going to sleep now, but I already see poorly educated people complaining about this... They are used to big refunds from Democrats.
In actuality, you want as small of a refund as possible without owing, UNLESS you are methodical in your record keeping and saving, then you can really work the system when you pay hardly any tax during the year, and owe a lot.
 Quoting: Anonymous Coward 56561591


What are you taking about. Revenue at an all time high.

[link to www.investors.com (secure)]
The Savvy Buyer
Anonymous Coward
User ID: 76604722
United States
02/10/2019 06:37 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
People complain about low tax rates but say nothing about taxation without representation.
 Quoting: REYMEGA TRUTH


Oh, no worries about the tax.

I ran my numbers through HR block No deductions no credits just standard deduction.

I fudged the numbers just so I don't feel so bad.

On 16k I had nothing taken out for the year.
It started at $3200 due...
The standard seduction reduced it to 2k due.

My status is married filing separately.
Checked how much I can have withdrawn for federal tax monthly.
It was only a tad over a $100 at single with 0.

I will still owe over 700 dollars next year too.

I know..I am a bot.
7thAdamu

User ID: 76858314
United States
02/10/2019 06:45 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
TAXATION IS THEFT .!.. ..!.
 Quoting: SeoKungFu


ya but the only other way to pay for infrastructure is to have crazy $$$$$ toll booths on every road and every bridge or over-pass...

man, that might suck worse...

thinkab0utit7




...just sayin'
 Quoting: GT Big hair


Have you evaluated the current infrastructure??? Taxpayers pay to kill small children in rural villages along desired pipeline plans. Your tax money goes to building weapons of mass destruction... Not like Iraq, we actually mass produce mass destruction weapons and use and sell them for killin people...

Tell me more about your favorite infrastructure while you car needs shocks all around from the jarring jolts you feel on your two hour commute...

Think of this, or try it... ask your McDonald's server is from. In every case they are from towns away while your towns McDonald's servers drive ours to work as well.

Idiots. I shouldn't even have to explain...
What exactly are they worshipping here?

:deadsheep:
7thAdamu

User ID: 76858314
United States
02/10/2019 06:46 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Looks like I've killed a few threads tonight. Idiots. Mission accomplished.

Last Edited by 7thAdamu on 02/10/2019 06:47 PM
What exactly are they worshipping here?

:deadsheep:
Anonymous Coward
User ID: 8918720
United States
02/10/2019 06:57 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Trump let you keep more money every paycheck.
Many probably pissed it all away.

With that, less taxes were paid to the government for the year.
Meaning many will have smaller refunds, (But you had more money throughout the year) or may owe (And you should have saved).
The smart people set money aside, the less educated will figure it out with next years returns.



I am trying to make this as easy as possible to understand, and will take your questions over the next days, but I will have to ask your state, what you made, what was withheld and your filing status if you want me to look a little more into your case.


Loaning money to the government in the form of tax refunds is never a wise idea as you see ZERO interest paid to you on your loan to the government.
Extra money throughout the year COULD have helped you pay down debts faster, but many only know SPEND SPEND SPEND.
I due time, those with poor educations may catch on to seeing what Trump did that will be in effect even after he leaves office, even if reelected in 2020.

IF you were wise enough to pay down/off say, credit card debt, you will realize even more money in YOUR pocket when you are not paying credit card interest fees.





I am going to sleep now, but I already see poorly educated people complaining about this... They are used to big refunds from Democrats.
In actuality, you want as small of a refund as possible without owing, UNLESS you are methodical in your record keeping and saving, then you can really work the system when you pay hardly any tax during the year, and owe a lot.
 Quoting: Anonymous Coward 56561591


What are you taking about. Revenue at an all time high.

[link to www.investors.com (secure)]
 Quoting: Savvy Buyer!


Obviously revenue is at an all time high. Man some people are just really really ....... tax revenue goes up when people are working jackass and every year more people are introduced to the work force,more people working plus more people added equals more tax revenue. Jeez this is common sense, tax liability actually went down, just about everyone's taxes went down aside from those who property taxes outweighed the standard deduction.
Anonymous Coward
User ID: 75009295
United States
02/10/2019 07:02 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
General pop. is so stupid they don't know the difference between a REFUND/PAYMENT and LIABILITY.

Look at your total LIABILITY on 1040. Compare that. If your income changed, compare as % of income year over year.

Guaranteed your taxes have gone down unless you are a very rare case.

And middle class families with children will be eligible for the child tax credit up to $400K (I think) instead of a $110K phase out (which is not longer middle class in a lot of areas).
Half Past Midnight

User ID: 19430753
United States
02/10/2019 07:05 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
I got a refund this year (I usually pay) because the Standard Deduction doubled.
Anonymous Coward
User ID: 72589274
United States
02/10/2019 07:16 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
My paychecks only went up about $1.50 per pay. It looks like I'll get a little more back than last year. Married filing jointly 2 kids. No deductions beyond the standard and property taxes. My mortgage interest is too low as we dont cross the threshold to itemize and deduct it and our property taxes are well under the 10000 limit so can be deducted.
Anonymous Coward
User ID: 74996255
United States
02/10/2019 07:17 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
I seen a drastic increase in my refund amount. Having 4 kids plus the increased child tax credit sure did help. Just waiting on my 11,000 check now. I did however notice that my paychecks are smaller even though I got a raise. Better re-evaluate those withholding amounts I set YEARS ago.
 Quoting: Eddie 75550376


Maybe your tax bracket went up with the raise - welcome to prosperity !

TAX the RICH !


Haha

Congratulations on the good work and the raise !
Anonymous Coward
User ID: 8918720
United States
02/10/2019 07:20 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
General pop. is so stupid they don't know the difference between a REFUND/PAYMENT and LIABILITY.

Look at your total LIABILITY on 1040. Compare that. If your income changed, compare as % of income year over year.

Guaranteed your taxes have gone down unless you are a very rare case.

And middle class families with children will be eligible for the child tax credit up to $400K (I think) instead of a $110K phase out (which is not longer middle class in a lot of areas).
 Quoting: Anonymous Coward 75009295


Thank you, some people have no idea what they're talking about, and other than understanding how it works claim they're upset cause they owe which I don't understand, cause my taxes withheld lowered and got another 1400 on top of last year. Will be changing my withholdings next month.i underestimated on how much this new plan lowered my liability. I knew I would save but wasn't sure exactly, just booked a trip to Florida for the family.
Miss Bunny Swan

User ID: 76343107
Colombia
02/10/2019 07:31 PM

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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
...


Can you explain this to me? Why would getting a refund be a bad thing? Genuinely curious.

Thanks!
 Quoting: Eddie 75550376


Sigh....

Because you are giving the government an interest free loan.
 Quoting: Anonymous Coward 76939846


And shorting yourself on take home pay throughout the year, meaning you may be not paying down your mortgage or credit card debt when you could save interest by doing more of that during the year if you had more take home pay.
 Quoting: 3643297


Mortgage is paid off just this last month. Will be using a portion of the return to pay off 3 of 5 loans. How is this a bad thing? And what about the free loan to the gov..... What is that in reference to?
 Quoting: Eddie 75550376


*facepalm*

You said you were getting about $11000 refunded? That’s how much you lent the government interest free.
ElleMira

User ID: 76494359
United States
02/10/2019 07:38 PM

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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
This is my gripe. The IRS penalizes you if you don't pay enough taxes each quarter based on your earnings. Which isn't fair, because you're not the one deducting how much taxes are coming out of your salary however, you can adjust your withholding to pay more to eliminate the penalty. But why give the government an interest free loan and yet they fine if you don't give them enough each quarter?
Anonymous Coward
User ID: 72718233
United States
02/10/2019 07:39 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Ofuckstickscucmbagtraitor jacked with the IRS (illegally because he didn't legally hold office). It will take a year or two for PRESIDENT TRUMP to straighten their commie asses out
Half Past Midnight

User ID: 19430753
United States
02/10/2019 07:39 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
I got $900 back last year..this year only $135 (a difference of $765.)

I received and extra $20 per pay period this year ($25 x 26 pay periods = $650)

I did the math.

$765 less of a refund.
$650 more throughout the year.

This "tax cut" didn't work in my favor as I wasn't able to itemize my mortgage interest and property taxes (which gave me the bulk of my previous refunds).

Plus I'm single without kids and paying over $6k in school/property taxes for crumb crunchers that aren't even mine.

suicide
 Quoting: Anonymous Coward 72335146


You took the Standard Deduction correct?
I couldn't claim my mortgage, dental/doctor appointments or my charitable deductions because the Standard Deduction was a better deal.
I think you need to be married or have kids to make out better. Married filing jointly doubles the Standard Deduction. Each kid gives you a tax CREDIT (as opposed to a tax DEDUCTION) this site explains it
[link to www.fool.com (secure)]

So maybe you need to get married or adopt some kids to do better ;p
Anonymous Coward
User ID: 77159757
United States
02/10/2019 08:08 PM
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Re: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
TAXATION IS THEFT .!.. ..!.
 Quoting: SeoKungFu

It's voluntary.