Skip to comments.Why is my tax refund less than last year?
Posted on 04/17/2010 11:03:13 AM PDT by Askwhy5times
Many Americans have been asking the question, "Why is my tax refund less than last year?" This is true even for people whose income and deductions were similar in tax year 2009 to tax year 2008. For these people, the answer is simple. You have been scammed by President Obama and Congressional Democrats. Obama and Democrats were desperate to quickly pass the "Stimulus Bill" last year and convince Americans they were taking strong action to turn around the economy. One of the major elements of the "Stimulus" was a $400 tax credit for many Americans. Democrats decided to put this amount on working Americans pay checks. Unfortunately, $400 only comes to about $8 a week. In order to make the tax credit look bigger, they changed the withholding tables more than was required for many people. Consequently, many Americans have had to give back part of their additional weekly income at tax time. Many tax payers owed the IRS a bigger check or got a smaller refund this April 15th because of the tax table changes. This is not only a problem for people who have to pay in. It is also a problem for many working families. They depend on their tax refund to fund large annual purchases; such as appliances, vacations or other larger consumer expenditures. Of course, most people will just wonder and never know the truth because the mainstream media usually fails to report anything negative about President Obama. If you think you may be one of these unfortunate taxpayers, read the examples posted in the excerpt below.
(Excerpt) Read more at bluegrasspundit.com ...
Geez, I am asking why I paid MORE tax this past year than ever before. I have a day job and a home based business that I love but after all the year end numbers were run I wonder why I am half killing myself to work so hard only to have so much taken away.
Didn’t you claim your dog’s puppies as dependents again this year? lol
Much more accurate Headline.
His Idea of a TAX CUT was to take LESS withholding from our checks, making our paycheck BIGGER.
Since there was NO TAX CUT, what we owed the IRS remained the same. Less withholding means Less paid in to cover the tax bill which was (again, sorry)NOT CUT.
YO, BARKY.. you can only lie to us for so long...now EVERYTHING you say is a LIE until proven OTHERWISE.
Sorry to have to repeat myself.. I need reminders too
Hang on. It will get worse. Hope and change my ass. You can thank an Obama supporter for this glorious prosperity we see now.
Yep - everyone I know - is either paying $1000 or receiving $1000 less refund than last year.
Many of us ask that question. There was a time if you did not own property you could not vote. It made sense then and it does now. Even those who don't own property would benefit from that policy.
I feel the same way...
my accountant told me I was his only client who didnt lose money on rental property this year.
i agree, drove me nuts in the 2008 election that there was a big levy on the ballot and i own 2 properties in the city so i get an extra bite taken.
i was a poll station observer that election day and i watched new voter after new voter after new voter walk in and raise my taxes on me. (i dont even have kids in the city school district either - parochial school parent here)
This refund thing is a joke at best. They sit on your money for a year interest free and when you get it back you think you cut a fat hog in the ass. I structure my tax return so I owe a little bit. I sit on the money and they don't. Then I send it in on 4/14. We should all do that. We are not breaking any law in the process and we could starve the beast.
This is the problem we were warned against by so many. When you can vote for largess all bets are off.
Weird you should say $1000 because that’s exactly how much I had to pay. The wife and I both had a 5% pay cut last year also. We made 10% less last year than we made in 2008 and still owed $1000. This “progressive” BS drives me crazy. Barry needs to take his “tax cuts” and shove them.
There are no tax cuts. What Obama considers a tax cut is giving cash to those that pay no tax. Welcome to the brave new world.
Actually, the games he played with the tax tables are a good thing, if you were smart enough to notice what happened. You get a better ROI the less $$ you have withheld. If you compared last years withholding with this year’s, and put that extra few $$ in the bank, you’d actually make money off interest.
The problem is that Obama wasn’t forthright about this and instead of telling the truth about lowering the withholding rates, he simply called it a tax cut, which it wasn’t. All lies and deceit.
You have to be careful with that. Even if you owed them $3,000 and paid it before 4/15, they could penalize you for not paying more during the year. "Cash flow is mine," sayeth the IRS.
Obama isn’t stupid, Bush’s tax breaks did not expire for the tax season. Next year is when we will see the real damage.
We are small business owners, so ours are based on estimated taxes. For us, I paid in what i normally paid in, and still came out owing around $1000 more than last year.
I’d rather owe them than them owe me, though.
I'm a blue collar worker and don't have to pay quarterly. I can see the trap if I had to. Since I am not in that position I keep my witholding in the range where I owe a small amount on the fifteenth. The bastards don't sit on my money interest free.
Post election I suspect. But maybe the cat is out of the bag and Obama overplayed his cards. Time will tell.
North Carolina has yet to send out tax refunds.
The standardized deduction went up. That means those of us with homes that itemize our deductions had a lower deduction amount even if the itemization was the same as last year.
Worse yet, since it went up the dems can claim it was a tax cut for most americans.
It’s a backdoor tax increase. The standard deduction is so high now that someone making 60k with a moderate mortgage will fall under it and won’t need to itemize.
But those people making a bit more with a bigger mortgage, state taxes, and property taxes get to pay more.
It’s also a bit of a disincentive to buy a moderate to low price home compared to years past.
Dumba$$es should not be getting refunds to begin with. They should be either paying taxes or zero out.
0bama is very slick even now. At the same time we have the Bush tax breaks ending, we also have the change in the tax tables that will cost people plenty. But according to 0bama, it will all be due to the Bush tax breaks ending so that no one will blame the dems for their actual expansion of the tax table rates.
Get people who know accounting and ask for help determining the amount of withholding based on your tax situation. Give the govt. the least amount in withholding you are comfortable with throughout the year and make them wait until 4/15 for whatever little left you may owe them. Don’t make withholding so large that you owe way above what you normally owe at tax time. The govt. can hit you with fines. Don’t make withholdings so low that you give the govt. way more for taxes during the year than necessary and let the govt. use your money interest free just to get a big refund check later. Remember right now there are states holding refund checks. The Federal Govt. could decide to do the same thing. You’d be floating them a loan with your money for as long as they decide to keep the refund check.
Withhold enough, not too much, so that you owe the govt. a little a tax time. If you can’t figure out what that amount is, get professional help.
My refund was $400 less than last year, even though my wages and deductions were the same. Now I know why.
I only made 8,000 in 2008 from my part time job (I worked all year) and they told me that I owed 300 on the taxes. I owed the IRS just a little bit than 5% of my yearly pay because they didn’t take enough out of me. All democrats do is tax, tax, and tax. Why don’t people see this? Oh, yea I forgot. Liberals live in their utopia. Why don’t we just build them a country in the middle of the ocean and let them have their little utopia there. I hope it won’t be like Guam and tip over.
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