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Obama wants his money back.


Perchoutofwater
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For many, the new tax tables will simply mean smaller-than-expected tax refunds next year, IRS spokesman Terry Lemons said. The average refund was nearly $2,700 this year.

 

But taxpayers who calculate their withholding so they get only small refunds could face an unwelcome tax bill next April, said Jackie Perlman, an analyst with the Tax Institute at H&R Block.

 

"They are going to get a surprise," she said.

 

Perlman's advice: check your federal withholding to make sure sufficient taxes are being taken out of your pay. If you are married and both spouses work, you might consider having taxes withheld at the higher rate for single filers. If you have multiple jobs, you might consider having extra taxes withheld by one of your employers. You can make that request with a Form W-4.

 

Done next Monday....ETA ::wacko:

Edited by bushwacked
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Just so I have this straight. The intention is to give us more money in our pockets. However, if you're in a situation that triggers you getting more money than you're intended to get, you don't get to keep it all. So, worst case scenario is that you get some money for free as well as a no-interest loan. What part of this is supposed to piss me off?

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Just so I have this straight. The intention is to give us more money in our pockets. However, if you're in a situation that triggers you getting more money than you're intended to get, you don't get to keep it all. So, worst case scenario is that you get some money for free as well as a no-interest loan. What part of this is supposed to piss me off?

+1

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Just so I have this straight. The intention is to give us more money in our pockets. However, if you're in a situation that triggers you getting more money than you're intended to get, you don't get to keep it all. So, worst case scenario is that you get some money for free as well as a no-interest loan. What part of this is supposed to piss me off?

 

 

Do you seriously have any shame? (is that how you're supposed to say it?)

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Just so I have this straight. The intention is to give us more money in our pockets. However, if you're in a situation that triggers you getting more money than you're intended to get, you don't get to keep it all. So, worst case scenario is that you get some money for free as well as a no-interest loan. What part of this is supposed to piss me off?

 

Exactly.

 

A very small percentage of Americans will get more than they are supposed to this year, and not be required to pay it back until next year.

 

Where do I sign up to get interest-free money?

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Well that is one less ivory cigarette holder for me . . . . . bastards!

 

I'm smashing my oracle and burning my top hat on April 15, 2010. I hope you all join me. Fox News will be there.

Edited by bushwacked
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Exactly.

 

A very small percentage of Americans will get more than they are supposed to this year, and not be required to pay it back until next year.

 

Where do I sign up to get interest-free money?

 

Pretty much any family where both the husband and wife work will be affected by this. So I wouldn't say it a small percentage. And it would be a big deal to those that are smart and don't let the government make interest off of your their money. Personally I don't care. I was just posting a public service announcement.

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I never trust the automatic withholding rates of the W-4 so for the last couple of years I have been estimating my tax burden and adjusted my withholding ahead of time appropriately. When the new withholding tables came into affect I noticed they were giving way too much back to equal an $800 credit so after only one paycheck I adjusted according. I don't like surprises come tax time.

 

Nobody is taking back anything that was promised. The problem is they don't do a good job with the withholding tables.

Edited by CaP'N GRuNGe
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