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Subscribe to RSSThe IRS has already handed out tens of millions of income tax refunds, and the average refund amount is about $3,000.
IRS Commissioner Douglas Shulman told a House subcommittee Thursday that the IRS had received more than 70 million individual tax returns as of March 10, up about 5 percent from the same time last year.
Shulman said the IRS had issued 59.2 million refunds as of March 10, for a total of $174 billion.
The $3,000 refunds are about the same as last year, according to Shulman’s testimony before a Ways and Means subcommittee.
If you’re more of a procrastinator than an early bird, don’t worry: You still have some time. The tax due datehas been extended to April 17 this year.
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For identity theft victims, paying taxes is a nightmare
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I'm sure thousands of prisoners and illegals are getting plenty of refunds along with those who didn't pay a dime in to begin with.
Yep, I'm sure that most of the "refunds" are actually wealth redistribution checks like EIC to people that didn't pay a dime of income taxes. What's scary is that the average of those is $3000. I can just imagine the size of what some of these generational welfare puppy mills are getting handed out to them.
Do not forget that if they do not have any income they can not get earned income tax credit
If you know of anyone cheating on their taxes, turn them in. 5% reward to whistleblower. Document, document, document. Only those who cheat on their taxes will whine about this post guaranteed! More tax breaks for the rich....yeah right.
"get low wages and taxed to death.."
If so, are you sending this from the grave?
I don't consider myself anything but middle class with my income, but because I'm single I got about half back of what the supposed average is. Seems off to me.
Actually, Erin, consider yourself lucky to be single as a tax payer. Married people pay a "marriage penalty". If my wife and I were single, between us, we'd get almost double the refund we get filing as married.
I agree, If you are single and child free you get to be the one who actually pays for those tax credits. It also hurts you if you live within your means and have a mortgage that is 25% of your gross income. It hurts to think about what my retirement account would look like if I did not have to carry other peoples burdens. But, as it is, I will never retire.
Oh, and spare me the teapublican B.S., I am not one.
PJ you pay for the tax breaks for big corporations and the top 1%. More money given to them than the poor.
star
Do you have a source for your statement?
That may be but we don't do bad ether we made 91K and paid 6.13% federal.
"we made 91K and paid 6.13% federal."
want to tell the rest of us how yu did that?
Deductions and write offs.
Per Auto 101's comment. Noone has the same tax situation. If he/she has a lot of dependents, is in college getting an advanced degree, donates a LOT of money, then they can essentially get a fairly low effective tax rate. The ones that pay the most tax % are those who are single, making decent money, and have no education credits or the like.
I'm single, no dependents, and pay a tax rate of roughly 30%. However, since claimed 0 on my forms I got a 3300 federal, 400 state, I was happy with that.
I too feel many people's pain. Between my wife and I working (I am in the military) and since we have no children, we are lucky to get anything back even after having maximum deductions throughout the year. All the while, single high school dropouts with multiple kids, no job, knee deep in unemployment benefits and welfare still manage to get between $5-10K back even after contributing nothing. Seems like bizarro world to me. What is the purpose of working and being a good citizen if you have to continually pay for the poor decisions and laziness of others?
Chris -1563272: Dude, where do you get your facts from? unemployed people with kids getting welfare getting 5 to 10K back in tax returns? What is your source? Drudge, briebart, Faux /Fake News? LOL
You teatards are so funnee you make me laugh. LOL It is a pity the fate of this great nation is in the hands of low information voters like you.
SOOOO Many people are doing just that!Can you imagine a illegal Mexican couple with a typical family of 5.5 ninos,old man earning minimum wage or being paid under the table and taking home several thousand dollars in "tax" refund(EIC-earned income credit),after drawing unknown amount of entitlemenst from state and federal governments.Welfare,WIC,rent subsidy,utility subsidy,free eduation for all ninos, free school meals and a multitude of other entitlements that can only imagine! We have "Entitlement Bureaus" in Mexifornia,just to help people get every dime that's due them.Can you imagine!We are doomed if we don't stop giving away the store to these people.Hell half of what they get will be sent to Mexico to prop up that worthless economy!Vote berrie(the bomber) out in November and get these entitlement give aways, to illegals, under control!
Chris, if you feel people on welfare are doing better than you or that HS drop outs are getting more benefits, go apply for welfare. And when you apply for work, do it as a person with some high school. Your live will improve immediately!
Actually I am a Democrat and therefore recognize the need for "helping" some families who have fallen on hard times. My real world perspective is from my niece and nephew who are total dirtbags and have found it acceptable to lay around and do absolutely nothing other than pump out kids at everyone else' expense.
I have done well in the military because I have devoted much of my adult life to our country and the duties that make me proud of being an American. My problem is that when people like me and my wife shell out $17000K each year or more in taxes and get like $225 back, deadbeats like many of my relatives DO NOTHING and essentially are rewarded for it. Do I live a better lifestyle than them? You bet your ass I do, but that certainly doesn't excuse their lack of motivation or desire to earn what they receive from all of us taxpayers. Why are they not able to contribute something for these benefits? They have not worked long enough to have earned most of these benefits but yet they miraculously seem to apply & receive them nonetheless.
Label me a Teatard if you will or even scoff and childishly throw my welfare scorn back at me, but realize that I am willing to help those who are willing to earn these benefits or willing to contribute something for them. Unfortunately there are many citizens (loosely in some cases) that are only trying to get something for nothing and that screams unfair to me. Kinda the same way that so many 1% people cry about paying their fair share. It is always the people in the middle that have to suffer the bookends and their corrupt ways.
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Average Joe single guys don't get a refund since they don't qualify for the Government give-a-ways for single parents and children. Sooo true! Big eff you to me because Im not pumpin out the kids and getting married. I think if u decide to have children you shouldn't be financially rewarded, just financially obligated.
But I should pay for any medical expense write offs , or business expenses you have right?? Someone paid for your school taxes when you were growing up and probably didn't have kids, or seniors who haven't had kids in years. But that is alright, right??? What a bone head.
verno, My parents did not have the tax breaks that are available now, just for having kids. You are assuming people like filbert, Chris, Erin and I are executives that are taking all kinds of write-offs. I assure you, you are wrong. Average single people are getting screwed tax-wise. I figure, I had public school k-12 and a State University education for 16 years, I have been paying taxes since I was 15, so I have been paying taxes for 33 years. I believe I have paid more than my dues for my education, thank you very much.
Oh, Phil, even if you did pump out children, only one parent benefits. So, you'd be chained to your wife.
The ideal situation is not to get a refund. It means you are paying the government what you owe and no extra. If you get a large refund back, the government is borrowing that money from you, and you could be using it for other things throughout the year (like a retirement fund or paying down your debt).
Many people find it difficult to save. This is an easy way to do it. So you miss out on a fraction of a percent in interest or risk it in the market. Small price to pay for a lump sum at the beginning of the year, assuming you don't blow it all on something worthless.
Now if you're getting a really big refund, then I agree with you. You need to adjust your withholding.
If the employer offers direct deposit, just open a savings account and have the money direct deposited into your savings. If you want to avoid spending it, don't link it to your checking. That way, you have to physically go to the bank to make a withdrawal (making it less likely that you'll spend the money and more likely you'll save it.)
Persephone:
When I was young I use to use the IRS as a xmas in April....I would have them hold back a lot of my paycheck so I could get a big refund, but then several college classes helped to show me the error of my ways and now I prefer to make whatever money I can off my wages. Not only do I get 'free money' (rather then giving interest fees to the government), I like having the liquid equality in a 'just in case' fund....heck I'd rather set up an extension and payments if needed to the IRS, then giving Capital One 25% interest on credit charges (ok that might be an exaggeration, but I know that they have one of the highest interest rates).
(cringe)
Ick, just reread my post.
Let me just state, I'm not an English major, and that I make major typos and have a severe need for a proof reader. Please forgive the errors in my posts.
when will we ever have a politician with enough sense to tax people fairly and quit grouping people into classes? Everyone pay a flat amount or something. Most of us are middle class, which basically means we get shafted. The rich don't pay enough, the poor don't pay at all.......where do you think it comes from (the middle class).
Made just under 100k but will get a nice refund, even though single, because much was given away to charity; I rather do that than pay Uncle Sam. There are ways around the tax bite for singles---all legal.
Same here William. Do you do your own taxes or do you have someone do yours?
Nice of them to give part of your money back to ya, huh? And the story spins it like it's such a boon to everyone.
filed, married bought a house got a dog and owe over 2,000 to the tax man. nothing changed in my job didn't get a raise made the same as last year same with my wife except she actually made less. we have no kids we are not on welfare. now a friend of mine is getting back 6,500 no job on foodstamps several kids what the hell is wrong with this picture. i almost feel like i should quit my job get on welfare and live off the system so i can get a refund but then I cant stand not to work and support my family
Refund amounts are irrelevant. If you want a higher refund take less deductions, if you want a lower refund, take more deductions.
I always took too many deductions because the penalty for owing too much was less than the money I earned by keeping it in the market.
As said above, it you have too much withdrawn you are only loaning them money at zero interest and you actually lose because your dollar deflates. It is actually worth less when they refund it to you than when you paid it in.
I just want to thank you all for allowing me to write a big check to the government.
It brings a smile to my face knowing that other people are getting more free stuff.
anarchy 2012
What a joke. Anyone bragging about how big their refund is, is an idiot for over paying in the first place. America will never have a balanced budget as long as we allow withholding taxes. We should stop withholding taxes and force everyone to pay what ever they owe in taxes on April 15th. THEN HOLD ALL ELECTIONS ON APRIL 16th.....
IRS is not the bad guy here. Congress is given they won't change the tax laws. Most working, full time US tax payers are paying 15-25% and that is just their income. Now add property tax for some, sales tax, gas tax..... and you've got one of the highest taxed countries on the planet. Why, because too many pay no taxes at all and are dependent on those that pay for all their lively-hood.
Justice,
Don't forget all the freebies us taxpayers need to pay to illegals, the No child Left Behind (ie, free college for illegal aliens) and other programs that we foot the bill for.
Hats off John. So many taxes, so much spending, so many failed policies, so many new taxes disguised as fees. It goes on and on.
justice, even if people are not working, they pay rent, and that rent is paying someone's property tax. And most have cars so they pay gas tax, and if they buy anything they pay sales tax. So get off of your soap box. And no I am not one of them, but I get so tired of you people saying they pay no tax, that is BS. Everyone pays tax one way or another.
justice
go look at the taxes paid in Denmark,Sweden, Germany, etc and then tell me that the US s one of the highest taxed nations. Not even close
Justice. There are only a handful of countries with lower taxes then the US. We are on the low end of the scale. I think only Mexico is lower then then US now because Ireland had to increase their tax rate as part of the deal of taking a bailout by the EU.
DOn't understan why people look for a refund, you are allowing the government to hold your money for FREE...no interest, no nothing to YOU , but they make interest off the money you let the hold.....
If you pay the righ amount of taxes whether yu are single, married, children, no children, you really want to come out even.
THat lets you know you used all of the money you were supposed to and the government did not make anythnig off of you. other than what you pay monthly in taxes....
A lot of you are fundamentally misunderstanding tax refunds. A refund isn't a tax cut or a gift. It simply means too much of your paycheck was withheld. Wanting a big refund is terrible money management. You simply allowed the government to sit on thousands of your dollars while you struggled to get by.
It's completely legal and wise to increase your deductions, which in turn gives you a raise in your regular paycheck. And then you shouldn't worry about how small your refund is. I'd MUCH rather have $250 extra every month than a big $3000 check whenever the government gets around to processing my return.
Even better than planning for a small return is to owe money to the IRS, as much as you can without paying a penalty. That may not mean much with interest rates as low as they are right now, but when rates go back up you can earn a couple percent on the money that you owe while it sits in a money market account.
This site made my comment go in the wrong place pleasse look under gpearson17 for my correct responce
I think most people are scared to take too many deductions and owe the government. I know I am. I take 3 deductions. me, my house & student loan interest. I still get a refund with no children. I don't take more because I don't know what I'll pay in property taxes or medical bills for the year. I say it's better to have the government make interest off of my money than trying to get the money together by 4/15 to pay them. If I have extra money in my paycheck, I'll spend it.
I pay every yr.,I've never gotten a refund.The SSI bums in this area get 9,000 every yr.and wouldn't ya know it! For some reason it doesn't count as income for them:No reduction in food stamps,free housing,SSI check,medical etc.,on and on and on.But if I cut the neighbors grass and she bakes me a pie,the gov.would have me count it as income.
I am married with our kids grown. We each work and we even have additional taken out every check and claim 0 dependants on out w4 forms. We have to pay at least 300 more every years when we file. I guess if you work hard, pay off all of your bills, raise your kids, you get to pay for the dead beat people that get back more than they pay in and help raise the kids of women that can't afford to but still have kids. Thank you very much to the Socialist Democrats and Unions of this country. YOU SUCK!
Thats exactly right, you do have to pay for the less fortunate. You were successful because of the system, and now you get to contribute to that same system you benefitted from. You take and then you give back and vice versa.....its not take and then take some more, that's just being greedy.
Tim:
If your attitude is that of a "true American" I am so happy that I am not one.
If you look where most the money is actually going, very little is going to the welfare moms and such as that is such a small sliver of the budget. The money is going to the retired through SS and medicare, the military, and to service our national debt. Just those 3 together make up the majority of the budget. So I ask you "what do you want to cut of these 3 so you can pay less taxes and not further increase the 3rd?"
I worked with three women. one had a 15 year old daughter an a husband on dissability, one had two kids 5 an 7, the third had three kids ages 2 4 an 7, The first one made 22 thousand a year, the second brought home around 19 thousand a year an the third made 25 thousand a year... The first got back 15 thousand in federal tax refund, the second got 13 thousand an the third got 12 thousand........ This is a fact, not made up. If you have kids in Georgia an your not getting but 2 or 3 thousand back a year, your not taking advantage of all the low income credits available to the lazy tax cheats........ Your options in america are go to college or move to Georgia an have 2 or 3 kids, leave them with grandma during the day , an hit the lottery at tax time...... GOD BLESS AMERICA
How do you know what other people make? By the way, you come close to being a functional illiterate. Your spelling and grammar are brutal.
www.nationaldebtclocks.com/unitedstates.htm
every SECOND your govt adds $35,000. to the national debt.
every second.
3 billion each day. that is, $3,000,000,000. each DAY! ADDED to the national debt.
when are you people going to wake up and stop destroying us all with endless, stupid, SPENDING!?!?!?!?!
The problem with your reasoning here is the earned income credit. Many of these people didn't pay too much, they just get extra back at the end of the year which is paid for by those of us who has worked hard enough to earn a higher wage but not enough to be rich enough to use lawyers to help us pay less. Your theory is correct but only if we were not being governed by a socialism Democracy.