Tax Refund.

[Oldcountryboy]

Better get your taxes filed now while your state still has some money.

Last night on the news they stated that there is 3 States that are broke and cannot give out tax refunds. California, Michigan, and another state which I can't remember right at the moment. Said there is another 12 states which may soon be joinning them.

Luckily my state isn't one of them. However, I fear this maybe the last year many of us will see state tax refunds for a long time. If this recession keeps going the federal government may soon join the list.

Does make me wonder tho, if the states can't pay up can we charge interest on our refunds? We're charged interest if we can't pay up!

[7.62mmFMJ]

We know what happens when WE can't pay THEM.

What they are doing is illegal. It is not their money to keep. It would be like a bank telling you that you can not have your money cause the bank is on hard times.

[hintonlady]

Won't stop them from continuing to collect on each payday, now would it?

Not getting paid back isn't half as infuriating as having more and more taken unfairly in the meantime.....

[Ernie]

I make sure that I come in low every year and owe them. I don't trust them.

[AngieM2]

Maybe it's time to change your deductions.

I know that with what I do on my taxes that I can up my deductions to 9 for about 6 months and then back to my 1 for the rest of the year. If I do this, I usually end up with them still owing me a small refund. I use my sewing as a small business schedule C and that makes a LOT of difference.

The most I've had to pay, once I figured out approximately how much I have to pay each year, and did this adjustment - was $22 that I owed.

So, examine your pay stub and how much your yearly pay would be taxed (or check your last one or two returns) and change your deduction status so you keep your money.

That is what works for me.

Angie

[pickapeppa]

My husband changed his deductions two weeks ago.



He left the state the same. We don't see a big return from them ever, so not worried about the state. Just worried about the federal. It's a much larger sum.

[7.62mmFMJ]

You'll get a federal refund in Obama Bucks.

[Ernie]

If they were to withhold everyone's Federal, you'll see rioting and revolution within 10 minutes of the announcement. There's just too many people who depend on that to keep them going. They have shortfalls all throughout the year, or put off vehicle or home maintenance (that's essentially required) until they get a large chunk of a refund. I know people who (oddly) get larger refunds than they actually pay in.

A more likely scenario for the federal government is a slow peeling back of payouts. Obama would announce that "for the good of the country and to reduce the deficit", he's going to be withholding the tax refunds of the country's wealthiest folks. Then they'll hold up as example a handful of corrupt CEO's. Then when we actually start seeing who got their money withheld from them it'll be a much larger slice than anyone anticipated, but still enough to keep people from rioting in the streets.

I saw this with a couple of credits or refunds or whatever semantic thievery they used over the past couple of years. They pleased the general public by announcing the federal government was going to give them a little bit of their own money back, but then I kept finding myself surprised that *I* was one of those wealthy Americans who were above the cutoff line.

[pickapeppa]

That would be because the federal government has *no clue* what it really costs to survive. Their numbers are, and have always been (since the 80s at least) conservative to the point of extreme pain.

If our government leaders had spent more time living the life of the middle or lower class, they'd have an entirely different perspective on the value of a dollar.

[Ernie]

Heh. I disagree with that last statement, Pickapeppa. I think the current news adequately shows that they DO know the true value of the dollar. Notice that they have made a point of KEEPING their dollars instead of paying their taxes. I don't think these are people who are spendthrifts in their personal lives. I think they are pirates who don't mind squandering the wealth they've stolen from their victims.

[7.62mmFMJ]

Looters.

Now feeding the Moochers.

[stanb999]

Originally Posted by Ernie

If they were to withhold everyone's Federal, you'll see rioting and revolution within 10 minutes of the announcement. There's just too many people who depend on that to keep them going. They have shortfalls all throughout the year, or put off vehicle or home maintenance (that's essentially required) until they get a large chunk of a refund. I know people who (oddly) get larger refunds than they actually pay in.

A more likely scenario for the federal government is a slow peeling back of payouts. Obama would announce that "for the good of the country and to reduce the deficit", he's going to be withholding the tax refunds of the country's wealthiest folks. Then they'll hold up as example a handful of corrupt CEO's. Then when we actually start seeing who got their money withheld from them it'll be a much larger slice than anyone anticipated, but still enough to keep people from rioting in the streets.

I saw this with a couple of credits or refunds or whatever semantic thievery they used over the past couple of years. They pleased the general public by announcing the federal government was going to give them a little bit of their own money back, but then I kept finding myself surprised that *I* was one of those wealthy Americans who were above the cutoff line.

I'm one of those...
First they send all I pay in back to me twice.. EITC I think. Then they give me 1000 per child as a Credit. So I end up getting back like 6000.00. I claim 1 on my w2 because I'm always right on the line where if I made less than 1000 more I'd have to pay some tax and I'd have too much income for the credits. They even have paperwork that you can send and they will pay you monthly for the above credits. But because of the above we wouldn't do that. They would send us for example enough monthly to pay our mortgage easy.

It really is strange.

Also because of the above the state gives me a credit in the amount of the taxes owed. This is the same thing tho, if I made a little more I'd be totally out of luck. So this year again I got all that back too. So my total refund will be in excess of $7000. We use this cash to pay the property taxes, and buy longer term stuff for the farm; fencing or building materials for example. This year we will also be doing a little remodeling on the house to make a walk in pantry for the DW. She needs more space for preps.



Ernie, This is why I say I don't pay any taxes!!! Not even property taxes.

[7.62mmFMJ]

This is why the system is broken. EIC is welfare.

[pickapeppa]

Originally Posted by Ernie

Heh. I disagree with that last statement, Pickapeppa. I think the current news adequately shows that they DO know the true value of the dollar. Notice that they have made a point of KEEPING their dollars instead of paying their taxes. I don't think these are people who are spendthrifts in their personal lives. I think they are pirates who don't mind squandering the wealth they've stolen from their victims.

Yes. But notice how those dollars amount to more than most people make in a year?

Apparently, they have no idea how to budget, or they wouldn't have to cheat to that extreme.

[Ernie]

I can't pretend to know how the tax system works. Each year I either have to pay additional funds or get back somewhere around $300. I never qualify for any refunds, child tax credits, or anything else and I pay somewhere upwards of $40,000 between income, business, and property taxes.

It seems to me that I am helping Stan's wife get her a walk-in pantry.

That's the whole problem with the tax system, in my opinion. I like Stan and I know he runs a pretty good operation. I'd be happy to buy any number of expensive farm or cottage industry products from Stan. Maybe his wife makes nice wool socks, or Stan has a really good artisan beer he makes in his basement that I just can't get enough of. Were we allowed to do so, Stan and I could swap money back and forth indefinitely as he pays me for honey and I buy his beer, or he pays me for chevron and I pay him for knitted sweaters. However the government, in its infinite wisdom, has forcibly taken from me a great mass of dollars, stolen its share for "operating expenses", and given a pittance back to Stan.

[7.62mmFMJ]

Yeah, I am paying my "fair share" of blood to the beast this year. I will owe quite a bit this year and DW is going to beg for a payment plan betting that the Fed.Gov may not be around.

[texican]

No income taxes in Texas.

[7.62mmFMJ]

I have no problem paying homage to my state. I have some say in what goes on. My State Senator owns a large piece of land just down the road.

It is the federal busybody nannystate that really chaps my hindquarters. I am paying them to rape me and steal my God-given rights.

[Ruby]

We don't pay state income taxes but we pay high sales tax.

[stanb999]

Originally Posted by Ernie

I can't pretend to know how the tax system works. Each year I either have to pay additional funds or get back somewhere around $300. I never qualify for any refunds, child tax credits, or anything else and I pay somewhere upwards of $40,000 between income, business, and property taxes.

It seems to me that I am helping Stan's wife get her a walk-in pantry.

That's the whole problem with the tax system, in my opinion. I like Stan and I know he runs a pretty good operation. I'd be happy to buy any number of expensive farm or cottage industry products from Stan. Maybe his wife makes nice wool socks, or Stan has a really good artisan beer he makes in his basement that I just can't get enough of. Were we allowed to do so, Stan and I could swap money back and forth indefinitely as he pays me for honey and I buy his beer, or he pays me for chevron and I pay him for knitted sweaters. However the government, in its infinite wisdom, has forcibly taken from me a great mass of dollars, stolen its share for "operating expenses", and given a pittance back to Stan.

I agree with you Ernie, The system is broken. But if you were in my position would you take the cash? Tho, it really isn't a fair question. Besides I can't get it from yours.... I tell my big time liberal brother, I get it from his.


P.S. The home brew is Blueberry wine... Too good. I make it with the wild blueberries, Sugar, and yeast. Nice high Alcohol Content. No sulfides. No Clarifying agents. No matter how much one enjoys the evening. No hang over!