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"Average tax refunds fall..."
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gggg...@gmail.com
Feb 14, 2019, 8:52:27 PM2/14/19
to
ItsJoan NotJoann
Feb 15, 2019, 8:13:50 PM2/15/19
to
On Thursday, February 14, 2019 at 7:52:27 PM UTC-6, gggg...@gmail.com wrote:
>
> https://www.pbs.org/newshour/economy/average-tax-refunds-fall-fueling-discontent-with-gop-written-law
>
Mine increased by $1287. YAY!
>
> https://www.pbs.org/newshour/economy/average-tax-refunds-fall-fueling-discontent-with-gop-written-law
>
Mine increased by $1287. YAY!
The Real Bev
Feb 15, 2019, 10:02:45 PM2/15/19
to
--
Cheers, Bev
"Few skills are so well rewarded as the ability to convince
parasites that they are victims." --Thomas Sowell
ItsJoan NotJoann
Feb 16, 2019, 12:14:49 AM2/16/19
to
On Friday, February 15, 2019 at 9:02:45 PM UTC-6, The Real Bev wrote:
>
> On 02/15/2019 05:13 PM, ItsJoan NotJoann wrote:
> >
> > Mine increased by $1287. YAY!
>
> Congratulations! You made the government a $1287 interest-free loan!
>
> Cheers, Bev
>
> On 02/15/2019 05:13 PM, ItsJoan NotJoann wrote:
> >
> > Mine increased by $1287. YAY!
>
> Congratulations! You made the government a $1287 interest-free loan!
>
>
Yeah, I try to help out as much as I can. *Snigger*
tra...@optonline.net
Feb 19, 2019, 9:44:36 AM2/19/19
to
is the issue that just because you got a smaller refund doesn't mean that
you paid more in taxes. Most people got a tax cut. The problem is that the
law changed how taxes are calculated and unless you estimated your taxes and
looked at your withholding to make sure it was still correct, you could wind
up paying in less in withholding, beyond the tax cut that you actually got.
But the lib media would rather run around with the story limited to
"tax refunds" being smaller. Never mind that the person typically is also
paying less in tax. And a smaller refund is a good thing. It means you
had the money during the year, not the govt. The real problem is for those
where their withholding was so far out of whack that they owe money and
possibly a penalty too.
Dennis
Feb 19, 2019, 2:52:40 PM2/19/19
to
On Tue, 19 Feb 2019 06:44:33 -0800 (PST), tra...@optonline.net wrote:
>Totally missing in all the mainstream media discussion of the smaller rebates
>is the issue that just because you got a smaller refund doesn't mean that
>you paid more in taxes. Most people got a tax cut. The problem is that the
>law changed how taxes are calculated and unless you estimated your taxes and
>looked at your withholding to make sure it was still correct, you could wind
>up paying in less in withholding, beyond the tax cut that you actually got.
>But the lib media would rather run around with the story limited to
>"tax refunds" being smaller. Never mind that the person typically is also
>paying less in tax. And a smaller refund is a good thing. It means you
>had the money during the year, not the govt.
Agreed.
>Totally missing in all the mainstream media discussion of the smaller rebates
>is the issue that just because you got a smaller refund doesn't mean that
>you paid more in taxes. Most people got a tax cut. The problem is that the
>law changed how taxes are calculated and unless you estimated your taxes and
>looked at your withholding to make sure it was still correct, you could wind
>up paying in less in withholding, beyond the tax cut that you actually got.
>But the lib media would rather run around with the story limited to
>"tax refunds" being smaller. Never mind that the person typically is also
>paying less in tax. And a smaller refund is a good thing. It means you
>had the money during the year, not the govt.
>The real problem is for those
>where their withholding was so far out of whack that they owe money and
>possibly a penalty too.
underpayment penalties for TY2018 because so many taxpayers did not
adjust or incorrectly adjusted their withholding (I did not adjust for
TY2018, but have not yet determined if I underpaid - I did adjust for
TY2019).
Dennis (evil)
--
My output is down, my income is up, I take a short position on the long bond and
my revenue stream has its own cash flow. -George Carlin
The Real Bev
Feb 19, 2019, 5:13:54 PM2/19/19
to
On 02/19/2019 11:52 AM, Dennis wrote:
> On Tue, 19 Feb 2019 06:44:33 -0800 (PST), tra...@optonline.net wrote:
>
>>Totally missing in all the mainstream media discussion of the smaller rebates
>>is the issue that just because you got a smaller refund doesn't mean that
>>you paid more in taxes. Most people got a tax cut. The problem is that the
>>law changed how taxes are calculated and unless you estimated your taxes and
>>looked at your withholding to make sure it was still correct, you could wind
>>up paying in less in withholding, beyond the tax cut that you actually got.
>>But the lib media would rather run around with the story limited to
>>"tax refunds" being smaller. Never mind that the person typically is also
>>paying less in tax. And a smaller refund is a good thing. It means you
>>had the money during the year, not the govt.
>
> Agreed.
>
>>The real problem is for those
>>where their withholding was so far out of whack that they owe money and
>>possibly a penalty too.
>
> I read that there will be amnesty for at least some (maybe most/all)
> underpayment penalties for TY2018 because so many taxpayers did not
> adjust or incorrectly adjusted their withholding (I did not adjust for
> TY2018, but have not yet determined if I underpaid - I did adjust for
> TY2019).
Theory has it that if you prepay the amount of last year's total tax
> On Tue, 19 Feb 2019 06:44:33 -0800 (PST), tra...@optonline.net wrote:
>
>>Totally missing in all the mainstream media discussion of the smaller rebates
>>is the issue that just because you got a smaller refund doesn't mean that
>>you paid more in taxes. Most people got a tax cut. The problem is that the
>>law changed how taxes are calculated and unless you estimated your taxes and
>>looked at your withholding to make sure it was still correct, you could wind
>>up paying in less in withholding, beyond the tax cut that you actually got.
>>But the lib media would rather run around with the story limited to
>>"tax refunds" being smaller. Never mind that the person typically is also
>>paying less in tax. And a smaller refund is a good thing. It means you
>>had the money during the year, not the govt.
>
> Agreed.
>
>>The real problem is for those
>>where their withholding was so far out of whack that they owe money and
>>possibly a penalty too.
>
> I read that there will be amnesty for at least some (maybe most/all)
> underpayment penalties for TY2018 because so many taxpayers did not
> adjust or incorrectly adjusted their withholding (I did not adjust for
> TY2018, but have not yet determined if I underpaid - I did adjust for
> TY2019).
liability there's no penalty. File quarterlies and keep your own money
a few months longer.
--
Cheers, Bev
An organizer for the "Million Agoraphobics March" expressed
disappointment in the turnout for last weekend's event.
tra...@optonline.net
Feb 23, 2019, 8:50:21 AM2/23/19
to
On Tuesday, February 19, 2019 at 5:13:54 PM UTC-5, The Real Bev wrote:
> On 02/19/2019 11:52 AM, Dennis wrote:
> > On Tue, 19 Feb 2019 06:44:33 -0800 (PST), tra...@optonline.net wrote:
> >
> >>Totally missing in all the mainstream media discussion of the smaller rebates
> >>is the issue that just because you got a smaller refund doesn't mean that
> >>you paid more in taxes. Most people got a tax cut. The problem is that the
> >>law changed how taxes are calculated and unless you estimated your taxes and
> >>looked at your withholding to make sure it was still correct, you could wind
> >>up paying in less in withholding, beyond the tax cut that you actually got.
> >>But the lib media would rather run around with the story limited to
> >>"tax refunds" being smaller. Never mind that the person typically is also
> >>paying less in tax. And a smaller refund is a good thing. It means you
> >>had the money during the year, not the govt.
> >
> > Agreed.
> >
> >>The real problem is for those
> >>where their withholding was so far out of whack that they owe money and
> >>possibly a penalty too.
> >
> > I read that there will be amnesty for at least some (maybe most/all)
> > underpayment penalties for TY2018 because so many taxpayers did not
> > adjust or incorrectly adjusted their withholding (I did not adjust for
> > TY2018, but have not yet determined if I underpaid - I did adjust for
> > TY2019).
>
> Theory has it that if you prepay the amount of last year's total tax
> liability there's no penalty.
Not just theory, it's true. Unless your income is $150K+, in which case
> On 02/19/2019 11:52 AM, Dennis wrote:
> > On Tue, 19 Feb 2019 06:44:33 -0800 (PST), tra...@optonline.net wrote:
> >
> >>Totally missing in all the mainstream media discussion of the smaller rebates
> >>is the issue that just because you got a smaller refund doesn't mean that
> >>you paid more in taxes. Most people got a tax cut. The problem is that the
> >>law changed how taxes are calculated and unless you estimated your taxes and
> >>looked at your withholding to make sure it was still correct, you could wind
> >>up paying in less in withholding, beyond the tax cut that you actually got.
> >>But the lib media would rather run around with the story limited to
> >>"tax refunds" being smaller. Never mind that the person typically is also
> >>paying less in tax. And a smaller refund is a good thing. It means you
> >>had the money during the year, not the govt.
> >
> > Agreed.
> >
> >>The real problem is for those
> >>where their withholding was so far out of whack that they owe money and
> >>possibly a penalty too.
> >
> > I read that there will be amnesty for at least some (maybe most/all)
> > underpayment penalties for TY2018 because so many taxpayers did not
> > adjust or incorrectly adjusted their withholding (I did not adjust for
> > TY2018, but have not yet determined if I underpaid - I did adjust for
> > TY2019).
>
> Theory has it that if you prepay the amount of last year's total tax
> liability there's no penalty.
you have to pay at least 110% of your previous year's tax liability to
avoid a penalty. I don't think this will help most of these people though.
They got a tax cut and likely paid less in withholding than the previous
year, less beyond the actual cut, which is what lead to most of the problems
to begin with.
gggg...@gmail.com
Mar 2, 2019, 10:39:33 AM3/2/19
to
On Thursday, February 14, 2019 at 3:52:27 PM UTC-10, gggg...@gmail.com wrote:
> https://www.pbs.org/newshour/economy/average-tax-refunds-fall-fueling-discontent-with-gop-written-law
https://www.washingtonexaminer.com/opinion/newsrooms-that-rushed-to-report-tax-refunds-were-smaller-this-year-go-silent-on-irs-data-showing-refunds-have-increased
> https://www.pbs.org/newshour/economy/average-tax-refunds-fall-fueling-discontent-with-gop-written-law
https://www.washingtonexaminer.com/opinion/newsrooms-that-rushed-to-report-tax-refunds-were-smaller-this-year-go-silent-on-irs-data-showing-refunds-have-increased
gggg...@gmail.com
Mar 2, 2019, 9:47:19 PM3/2/19
to
On Thursday, February 14, 2019 at 3:52:27 PM UTC-10, gggg...@gmail.com wrote:
> https://www.pbs.org/newshour/economy/average-tax-refunds-fall-fueling-discontent-with-gop-written-law
If you pay your taxes with a credit card:
> https://www.pbs.org/newshour/economy/average-tax-refunds-fall-fueling-discontent-with-gop-written-law
https://www.marketwatch.com/story/owe-the-irs-heres-why-you-probably-shouldnt-pay-your-taxes-with-a-credit-card-2019-03-01
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