illegal aliens get tax returns without paying taxes.

#52
#52
Wasn't there a deal last year where the irs sent like 3 million in returns to illegals to one address in Atlanta?
 
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#53
#53
govols/cc said:
Wtf us a tax credit for? Why if I have more kids and make less money it lessens my tax burden? The s*** is ass backwards.
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What he is saying is a lot of people choose to have more taxes withheld from their paycheck throughout the year than they actually owe. At the end of the year when you file your tax return, you'll have paid more taxes to the government than you owed for the year. Since you paid more than you owed, IRS will then refund you the difference (as long as there is no evidence you're a conservative).

I like doing it that way because it feels like a nice little bonus.
 
#56
#56
Vol8188 said:
I oppose most tax credits also. I think the entire system needs to be simplified and less deductions should be made available.

I'd keep deductions for education, medical expenses, and net loss. That's about it.
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What do you mean by net loss?
 
#57
#57
govols/cc said:
Wtf us a tax credit for? Why if I have more kids and make less money it lessens my tax burden? The s*** is ass backwards.
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There are 2 basic kinds (refundable and nonrefundable). They are dollar for dollar reductions in taxes you would otherwise have to pay (not the same as deduction). There's all kinds of them meant to encourage a certain behavior or relieve a particular circumstance (both personal and business). The stinky one's are the refundable credits. Refundable means you may get more credit than the amount of taxes owe or have paid. These credits are payments equal to welfare straight out of the treasury. The Earned Income Credit and Obamacare subsidy are two of these welfare stinkers. Other nonrefundable credits stop when you owe no more tax.
 
#58
#58
olbemw7 said:
What he is saying is a lot of people choose to have more taxes withheld from their paycheck throughout the year than they actually owe. At the end of the year when you file your tax return, you'll have paid more taxes to the government than you owed for the year. Since you paid more than you owed, IRS will then refund you the difference (as long as there is no evidence you're a conservative).

I like doing it that way because it feels like a nice little bonus.
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My god I know how it works it's just backdoor welfare for many. There shouldn't be any number associated with the taxes you pay but the number 1, YOU, and whatever percentage deducted. The amount you owe shouldn't vary depending on your marital status, number of kids, whether you're a widow, divorced, or the number of folks you choose to let reside under your roof. You and you alone should own your tax burden. No deductions, credits, or anything, just pay what you owe.
 
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#59
#59
Obsessed said:
Wasn't there a deal last year where the irs sent like 3 million in returns to illegals to one address in Atlanta?
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Yes, there's all kinds of fraud with people making fake returns to get the Earned Income Credit because it can be for more than the taxes owed/paid. They come like hogs to the trough.
 
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#60
#60
govols/cc said:
My god I know how it works it's just backdoor welfare for many. There shouldn't be any number associated with the taxes you pay but the number 1, YOU, and whatever percentage deducted. The amount you owe shouldn't vary depending on your marital status, number of kids, whether you're a widow, divorced, or the number of folks you choose to let reside under your roof. You and you alone should own your tax burden. No deductions, credits, or anything, just pay what you owe.
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Sorry, you seemed confused. I was just trying to clear it up.
 
#61
#61
Obsessed said:
Wasn't there a deal last year where the irs sent like 3 million in returns to illegals to one address in Atlanta?
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I believe it was to one person in particular. She submitted a fraudulent return and the IRS caught the error but sent the return in attempt to catch her. Sure enough, she attempted to cash the $3 million dollar refund check at a grocery store and she was apprehended there. SMH.
 
#63
#63
Vol8188 said:
When a business does not make money and they take a loss.
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cost of doing business. Same for losing money on investments

I lost money on the sale of my house and just had to suck it up. Should I have gotten a deduction too?
 
#64
#64
utvolpj said:
cost of doing business. Same for losing money on investments

I lost money on the sale of my house and just had to suck it up. Should I have gotten a deduction too?
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The only reason I would be for keeping this is because it encourages people to take a chance.
 
#65
#65
Vol8188 said:
The only reason I would be for keeping this is because it encourages people to take a chance.
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or it encourages people in a bad business to keep going. Why shouldn't everyone losing money should be able to recoup some of their losses?
 
#67
#67
olbemw7 said:
What he is saying is a lot of people choose to have more taxes withheld from their paycheck throughout the year than they actually owe. At the end of the year when you file your tax return, you'll have paid more taxes to the government than you owed for the year. Since you paid more than you owed, IRS will then refund you the difference (as long as there is no evidence you're a conservative).

I like doing it that way because it feels like a nice little bonus.
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the .gov thanks you for the interest free loan
 
#69
#69
utvolpj said:
cost of doing business. Same for losing money on investments

I lost money on the sale of my house and just had to suck it up. Should I have gotten a deduction too?
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It is in the long run. Or at least it used to be.
 
#70
#70
olbemw7 said:
What he is saying is a lot of people choose to have more taxes withheld from their paycheck throughout the year than they actually owe. At the end of the year when you file your tax return, you'll have paid more taxes to the government than you owed for the year. Since you paid more than you owed, IRS will then refund you the difference (as long as there is no evidence you're a conservative).

I like doing it that way because it feels like a nice little bonus.
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So you are bad with money?
 
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#71
#71
volfanhill said:
So you are bad with money?
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You don't necessarily have to be bad with money to receive a refund once life gets past a 1040ez. We've had anywhere from a few hundred dollar refund to owing about a grand. I try to figure out our as best I can but it's tough to factor in 2 kids, house, daycare, stocks, etc.

However the economy needs people who view it as a bonus and make big purchases. Black Friday should be Feb - April
 
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#72
#72
Vol8188 said:
Huh? Most people get a refund because they overpay. Idk how that's the governments fault. That's between you and your employer
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Not really... Your employer only processes what you put down as dependents.....


No one should ever get a refund.. The govt held your money all year with no interest.. No thanks
 
#73
#73
Biopsyman said:
Not really... Your employer only processes what you put down as dependents.....


No one should ever get a refund.. The govt held your money all year with no interest.. No thanks
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Which is why it's between you and your employer. If you are getting a refund, you need to get the proper paper work from your employer so you can correct that.
 
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