What happened to my tx refund

Discussion in 'The Fire For Effect and Totally Politically Incorr' started by Helix_FR, Jan 4, 2010.

  1. Helix_FR

    Helix_FR Active Member

    Apr 14, 2009
    Imperial, MO
    I can just hear it now come April, the thousands complaining about how they once got a refund now either owe money or get very little b/c of Obozo's stimulus package that took less out of each paycheck. Maybe those that voted him in will realize that it ain't no free ride.
     
  2. 308 at my gate

    308 at my gate New Member

    847
    Dec 6, 2008
    Lost in SW USA.
    When the taxes start taking more of their money it will get their attention.
     

  3. dons2346

    dons2346 Well-Known Member

    The only real way to get someone's attention is to get in their pocketbook.
     
  4. ponycar17

    ponycar17 Active Member

    Feb 17, 2005
    South Carolina
    That's exactly right. Since about $68 per check was withheld less per month, that works out to $816 per year. If you and your spouse were forced automatically by your employer to not withhold the additional $68/month and didn't correct your W4 to withhold extra federal taxes then you'll owe about $832 back to the government by April because the Obama stimulus credit was only $800 for a married couple. You will have withheld $832 too little between the two of you if you file as married and jointly.
     
    Last edited: Jan 4, 2010
  5. red14

    red14 Well-Known Member

    Aug 17, 2009
    N FLA
    I never got any money, waaaaahhh, where's mine? Am I the 5% that don't get any back?
     
  6. Terry_P

    Terry_P New Member

    Mar 23, 2008
    NH
    Did they reduce the withholding tables? I'm trying to understand whats being said?? 2009 or 2010
     
  7. ponycar17

    ponycar17 Active Member

    Feb 17, 2005
    South Carolina
    They didn't reduce the 1040TT tables but did request that employers withhold $68 less per month from everyone's check as a way to get money into the economy more quickly. They provided what I believe was a $400 tax credit per individual earner to go into effect immediately by means of reducing required withholding. The problem is that everyone is going to withhold too little. Effectively, couples who file as married and jointly who both work will withhold around $832 too little since their employers were asked to change their withholding practices to supposedly get those 'stimulus' dollars out there quickly.

    Single taxpayers who withhold this $68/month too little could potentially owe $416 to the government since they only get a $400 tax credit.

    In reality, some people will receive a lesser refund and some people will owe, just depending on their individual situation. Overall, we just got a short-term loan from the government.
     
    Last edited: Jan 4, 2010
  8. petesusn

    petesusn Member

    Wasn't it Biden who said that it's a privilege to pay taxes?
     
  9. petesusn

    petesusn Member

    People tell me "I'm getting $1000.00 back" or 2K or 3k. Whatever the amount. Then I ask them "That's real nice. Now how much did you PAY? As for me, I'm getting $4500 back. But I still had to give them $3000. You're just giving the feds an interest free loan.
     
  10. topper

    topper New Member

    748
    Aug 2, 2006
    deep in the woods
    Perhaps it's about time we all stop paying ILLEGAL income taxes. NOW THAT WOULD GET ATTENTION!
     
  11. ponycar17

    ponycar17 Active Member

    Feb 17, 2005
    South Carolina
    Better yet, and 'less' illegal. Start withholding as little as possible throughout the year by raising your dependents to the maximum. They'll soon starve of that monthly income they use to operate on as withholding throughout the year. At the end of the year, pay it all. There are penalties to doing this over more than one year but if enough people did it there would be a clear message sent.

    Of course the one major downside to this is that most people do not have the financial discipline to NOT spend the amount that they didn't withhold and need to pay in the following year. Then, they face the wrath of the IRS after April. :(
     
  12. Terry_P

    Terry_P New Member

    Mar 23, 2008
    NH
    Just pay what the total tax amounted to in the prior year and you won't face any penalities you may owe money but thats it.
     
  13. Bobitis

    Bobitis Guest


    When do the losers/single moms/couch potatoes/dead beat dads/welfair recipients/etc. face the wrath?

    Do we take away their benefits? Do we require them to work it off? Is there ANY stipulation for getting sumpin fo nuttin?

    Nope!

    Middle class all the way baby!:mad:
     
  14. ponycar17

    ponycar17 Active Member

    Feb 17, 2005
    South Carolina
    Well, yeah... Despite Obama's campaign promises, which are already firewood, the middle class will undoubtedly bear the brunt of ALL this treasonous government's economic policies.

    From Foxnews.com today... Health Care Countdown: Senate Bill Could Hit Middle Class Hard

    This is exactly what I've been saying about a tax that is passed on to the middle class through taxation of corporations and the health care providers on TFF... Sorry liberals, you're proven wrong yet again through rational economic reasoning. :rolleyes:
     
    Last edited: Jan 6, 2010
  15. Well, you know liberals don't use reason for anything, right?:p
     
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