So smaller interest free loans to the government
How much less did I send in for the Jan. 2024 estimated Tax than last year?
Let the IRS suck on that....
She cute.
Gov’t issue?
Thanks for reminding me to get prepared for my wife’s annual interrogation. It usually goes something like how come we have to pay and one of her brothers is getting $K back. This has been going on for 30 years. To date, I have refrained from explaining to her that her brothers are idiots.
I try to owe about $100 or so at the end of the year - last year I owed over $1k and this year - after readjusting to try to get it back to my target, I owed almost $900 - my taxes went up $2k over the last 2 years...
while you are technically correct, most people have no impulse control and the refund check they get from the IRS is the only large sum of money they ever have each year.
Or...we could stop all this silliness and pass the FairTax into law. Do away with the annual tas day BS, dump the IRS, and bring ‘shadow’ income back into the mix.
It makes sense. Not to a ravenous, uncontrolled government, or course; but, it does make sense.
I don’t understand how this country can be so far in debt and yet give money back in tax refunds. Magic accounting I guess.
We’re the same. We generally pay a bit to the state and get a bit (of our own money) from the feds. It’s generally within $100.
I’ve been attempting to calculate the true effect of inflation upon my real wages and, in the process, discovered that my w2 withholdings have not kept pace with my tax burden.
I highly recommend those with w2 wages file a new w4 form due to changes - iirc - between the 2019-2020 tax years.
Bottom line, I’ve calculated that my real w2 wages today - for which I receive no COLA - are equivalent to March 2020 (roughly a 20% reduction), while my federal income taxes have increased approximately 20%, and state have increased approximately the same.
Translated: M20 x 2.5 x 5x10-nth