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Old 01-29-2013, 08:31 AM
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Default Income tax refunds

Why is it I pay 10,000-12,000 dollars federal income taxes every year and after doing my taxes I might get back 2,000 to 2,500 dollars. Then they're other people that might pay 2,000-2,500 dollars a year federal income tax and their refund is 8,000 dollars.
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Old 01-29-2013, 08:47 AM
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You're doing it wrong...
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Old 01-29-2013, 08:50 AM
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Yep, you're doing it wrong.
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Old 01-29-2013, 08:51 AM
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Sucker.
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Old 01-29-2013, 09:18 AM
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It's all about the cheeeruns.......quantity not quality.
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Old 01-29-2013, 09:20 AM
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Quote:
Originally Posted by 25.06 View Post
Why is it I pay 10,000-12,000 dollars federal income taxes every year and after doing my taxes I might get back 2,000 to 2,500 dollars. Then they're other people that might pay 2,000-2,500 dollars a year federal income tax and their refund is 8,000 dollars.
You - because you paid in too much during the year.

Them - because they are beneficiaries of Title 26 USC welfare.
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Old 01-29-2013, 09:26 AM
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You - because you paid in too much during the year.

Them - because they are beneficiaries of Title 26 USC welfare.
How do you get more back then you paid in? Something doesn't seem right about this.
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Old 01-29-2013, 09:28 AM
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Yep, you're doing it wrong.
What am I doing wrong?
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Old 01-29-2013, 09:31 AM
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Default Individual Income Tax Credits

Some taxpayers take advantage of individual income tax credits to include: Child and Dependent Care Credit - maximum credit of $3000 per child/dependent; Child Tax Credit - $1,000 tax credit per child; Earned Income Credit - amount varies on taxpayers income and whether a child is in the household; and the Education Credits (for college tuition, books, etc).

Taking advantage of one or more of the credits can result in a federal income tax refund that exceeds the amount of federal income tax withheld or paid during the year.
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Old 01-29-2013, 09:32 AM
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What am I doing wrong?
Working too much? White male? Vote Republican? There's a multitude of things you're doing wrong
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Old 01-29-2013, 09:45 AM
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Yet, if you were to reduce that amount that they are receiving the entire liberal world would erupt over the unfairness of "raising taxes on the poor."

I have actually tried to have level headed discussions with liberal friends over why it is not "screwing" a person to stop giving them back more money than they paid into the system. It doesn't end well, because as far as they are concerned the poor people have a right to that money. It is absolutely mind boggling.
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Old 01-29-2013, 09:49 AM
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Working too much? White male? Vote Republican? There's a multitude of things you're doing wrong
I hear you, I think you're probably right.
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Old 01-29-2013, 10:05 AM
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Originally Posted by 25.06 View Post
How do you get more back then you paid in? Something doesn't seem right about this.
"Refundable Tax Credits".

Earned Income Tax Credit
Child Tax Credit (but only a portion is refundable)
American Opportunity Credit (only a portion is refundable)
Making Work Pay Credit
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Old 01-29-2013, 10:11 AM
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Its called re-distribution of wealth. Get used to it!
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Old 01-29-2013, 10:12 AM
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The current administration has determined and applied your "fair share" payment required to keep US from going off the cliff. Things are tough, and you have to sacrifice. So, chin up, and work harder.
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Old 01-29-2013, 12:25 PM
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Income tax refund? What's that? I slightly remember those from when I was younger.
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Old 01-29-2013, 12:49 PM
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every time i had my taxes done, i'd ask 'how much would i save if i were married'?

when i got my answer, i would say...'worth every penny'..

hahahahahahahaha

and then, i met my 4th wife.

oh, well.............lol
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Old 01-29-2013, 01:00 PM
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Originally Posted by 25.06 View Post
Why is it I pay 10,000-12,000 dollars federal income taxes every year and after doing my taxes I might get back 2,000 to 2,500 dollars. Then they're other people that might pay 2,000-2,500 dollars a year federal income tax and their refund is 8,000 dollars.
Because you are one of the "fortunate" ones and they aren't.
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Old 01-29-2013, 01:01 PM
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Originally Posted by biggsteve View Post
every time i had my taxes done, i'd ask 'how much would i save if i were married'?

when i got my answer, i would say...'worth every penny'..

hahahahahahahaha

and then, i met my 4th wife.

oh, well.............lol
^ Slow learner
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Old 01-29-2013, 01:13 PM
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Originally Posted by biggsteve View Post
every time i had my taxes done, i'd ask 'how much would i save if i were married'?

when i got my answer, i would say...'worth every penny'..

hahahahahahahaha

and then, i met my 4th wife.oh, well.............lol
You do know that after the 3rd it's officially "not the womans fault".
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Old 01-29-2013, 01:55 PM
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Originally Posted by Tom Blackburn View Post
Some taxpayers take advantage of individual income tax credits to include: Child and Dependent Care Credit - maximum credit of $3000 per child/dependent; Child Tax Credit - $1,000 tax credit per child; Earned Income Credit - amount varies on taxpayers income and whether a child is in the household; and the Education Credits (for college tuition, books, etc).

Taking advantage of one or more of the credits can result in a federal income tax refund that exceeds the amount of federal income tax withheld or paid during the year.
Quote:
Originally Posted by skcuf View Post
Working too much? White male? Vote Republican? There's a multitude of things you're doing wrong

^ This.

I worked for Jackson Hewitt for a few years and most big refunds are because of earned income credit and child tax credit. If you have a lot of children you'll get a lot of refund, I did a return once where the client claimed 5 dependent children and got a grand for each one and then additional money for earned income credit. I'll give you a hint, it wasn't a white male.
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Old 01-29-2013, 02:59 PM
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You do know that after the 3rd it's officially "not the womans fault".
fault? who mentioned fault?

are you still driving your first car? lol
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Old 01-29-2013, 04:25 PM
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This topic gets the steam blowing out of my ears quicker than just about anything else beside animal abuse.

My wife and I have been waiting for several years before trying to have kids because we pay about $5k/yr in health insurance and still have a high deductible and copays on a group policy. To cover that we have saved a certain amount in the bank, on top of paying on time on our first home's 15yr mortgage, and carrying no consumer debt.

At the same time I know LOTS of people our age who are having babies left and right, have zero savings, feed the babies with EBT, had them delivered with Peachcare (or some free health program), and STILL WILL GET MONEY BACK FROM THE IRS WHICH THEY WILL USE TO BUY A NEW $2000 FLAT SCREEN TV.
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Old 01-29-2013, 04:34 PM
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and then, i met my 4th wife.
You're doing it wrong...
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Old 01-29-2013, 04:40 PM
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Skin color has nothing to do with it.

Friends of mine(white couple)married with 4 kids,still live with his mother in her house.He works,wife doesn't,just got approved for $700 a month food stamps and they are getting back over $8000 refund.
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Old 01-29-2013, 04:44 PM
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It's theoretically possible "they" elected to pay in withholdings of $8000 more than they owed, so they are getting it back as a refund. But I would say not very likely.
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Old 01-29-2013, 04:52 PM
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Skin color has nothing to do with it.

Friends of mine(white couple)married with 4 kids,still live with his mother in her house.He works,wife doesn't,just got approved for $700 a month food stamps and they are getting back over $8000 refund.
Yeah all the pieces of garbage I know are local white people.
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Old 01-29-2013, 06:08 PM
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Originally Posted by grizzlyblake View Post
This topic gets the steam blowing out of my ears quicker than just about anything else beside animal abuse.

My wife and I have been waiting for several years before trying to have kids because we pay about $5k/yr in health insurance and still have a high deductible and copays on a group policy. To cover that we have saved a certain amount in the bank, on top of paying on time on our first home's 15yr mortgage, and carrying no consumer debt.

At the same time I know LOTS of people our age who are having babies left and right, have zero savings, feed the babies with EBT, had them delivered with Peachcare (or some free health program), and STILL WILL GET MONEY BACK FROM THE IRS WHICH THEY WILL USE TO BUY A NEW $2000 FLAT SCREEN TV.
Then what I'm about to post will require you to get medicated.

I 'know a family' who gets gov't benefits...you know, EBT, disability (husband) with 4 kids. The wife cleans houses for cash. She averages about $600-$700 a week, tax free, SS free, etc. The husband (on disability mind you) ALSO works for cash. He's been a contractor his entire life. He does side jobs for people all the time, builds decks, remodels, etc. when he feels like making enough to support his 'habits'.

So the wife asks just ONE of her house cleaning clients for a 1099....and fills it out with the amount she made just from that one client. So they file and receive a $7000 tax gift from all of us who work legitimately.

And before anyone asks, YES they have been reported....a couple of times that I'm aware of. Nothing has ever been done as far as I know. I guess the gov't doesn't care???
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Old 01-29-2013, 06:31 PM
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^^^ THIS is what our IRS agents need to be working on..not how to get more $$$ out of the working bloke like most of us. And I could care less what your skin color is...if you are "working the system" and the rest of us are paying for it, I would LOVE to see you do jail time. OP..fwiw..I know people who pay >$100K PER YEAR in just Fed. Income Taxes...talk about "fair".
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Old 01-29-2013, 06:33 PM
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Quote:
Originally Posted by Tom Blackburn View Post
Some taxpayers take advantage of individual income tax credits to include: Child and Dependent Care Credit - maximum credit of $3000 per child/dependent; Child Tax Credit - $1,000 tax credit per child; Earned Income Credit - amount varies on taxpayers income and whether a child is in the household; and the Education Credits (for college tuition, books, etc).

Taking advantage of one or more of the credits can result in a federal income tax refund that exceeds the amount of federal income tax withheld or paid during the year.
I don't get close to that for my two rug rats.
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Old 01-29-2013, 06:58 PM
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This is just a distraction. The poor can't compete when it comes to gaming the system.
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