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

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.

Sigh....

Because you are giving the government an interest free loan.

Sigh....

Because you are giving the government an interest free loan.

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.

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.

Income tax payers are ignorant slaves. Simple as that.


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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?

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.

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?

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.

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

Thanks!

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.

People complain about low tax rates but say nothing about taxation without representation.

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...






...just sayin'

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

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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.

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).

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?

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.