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Taxpayers lash out at Trump for Tax Cuts and Job Act 'scam' as IRS data shows refunds are smaller than last year!

 
Anonymous Coward
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02/10/2019 01:26 PM
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Taxpayers lash out at Trump for Tax Cuts and Job Act 'scam' as IRS data shows refunds are smaller than last year!
Wow, Is it really true?

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US taxpayers have lashed out on social media this past week after receiving lower refunds than last year and some finding they even owe the IRS money despite no apparent change in their financial situation.

American taxpayers were hit with the blow as the first week of filing came to a close February 1, despite the 2017 Tax Cuts and Job Act supposedly meaning lower taxes for the working class in 2018.

Some directly targeted President Donald Trump in their complaints online as the Internal Revenue Service released figures Friday showing the average refund amount in the first filing week for 2019 was down compared the same time in 2018
Anonymous Coward
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02/10/2019 01:27 PM
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Re: Taxpayers lash out at Trump for Tax Cuts and Job Act 'scam' as IRS data shows refunds are smaller than last year!
RETARDS, UNEDUCATED RETARDS is what they are.

Thread: Direct all people with tax issues to this thread. Many poorly educated Americans are having issues with their refunds.
Anonymous Coward
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02/10/2019 01:28 PM
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Re: Taxpayers lash out at Trump for Tax Cuts and Job Act 'scam' as IRS data shows refunds are smaller than last year!
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.



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.
Lady Jane SmithModerator
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02/10/2019 01:31 PM

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Re: Taxpayers lash out at Trump for Tax Cuts and Job Act 'scam' as IRS data shows refunds are smaller than last year!
I don't care about the size of refunds. What is important -- has their total tax obligation, as a percentage of each dollar earned decreased?

Logic and math skills are very important.
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Killer Bunny
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02/10/2019 01:37 PM
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Re: Taxpayers lash out at Trump for Tax Cuts and Job Act 'scam' as IRS data shows refunds are smaller than last year!
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.



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 75941786


The whole "poor people are stupid" line is incorrect. One aspect none of the media are reporting on is the alteration of the EIC. Because the standard deduction was doubled the lowest bracket is seeing a reduction in the amount of their EIC while the child tax credit was opened up to higher brackets. When you look at the numbers this amounts to a direct transfer of revenue from the lowest bracket to the higher ones.

Now you'll say some shit about how the lowest bracket doesn't pay anything at all, which is true. The fallacy is that the lower brackets benefit from a system that exploits their labor.

Enjoy your money. Remember Joshua, you cant serve to masters.