How much is the tax return for the person above you?

NormInv
NormInv Posts: 3,303 Member
in Chit-Chat
refund positive, amount owed negative

Replies

  • DiaryOfaThickFitWoman
    DiaryOfaThickFitWoman Posts: 406 Member
    +1230
    - 334
  • _John_
    _John_ Posts: 8,646 Member
    0, she's not a dumbass who earns 0% interest off the government
  • Kurindal
    Kurindal Posts: 355
    :laugh: This thread amuses me. I'm an accountant (audit, not tax, though) :laugh:

    +0
    -0
    FORKS DON"T PAY TAXES
  • BeckyGee84
    BeckyGee84 Posts: 124 Member
    +1500
    -250
  • Leonidas_meets_Spartacus
    Leonidas_meets_Spartacus Posts: 6,198 Member
    +280
    -10
  • Kurindal
    Kurindal Posts: 355
    0, she's not a dumbass who earns 0% interest off the government

    Not necessarily the case in all circumstances. A lot of high net worth individuals, for example, have their tax amount fluctuate (by large amounts) from year to year, so they roll their refund forward to the next year. Some people have unpredictable income amounts, for example they work a ton of overtime but it's not consistent year in and year out. It's almost guarenteed in some of these cases that the interest you make by putting that money in a bank account won't make enough interest to cover the penalties imposed for incorrectly guessing and not paying enough. Withholding close to the right amount is a really smart move for almost everyone, but playing it safe is good for a lot of other people too.
  • NormInv
    NormInv Posts: 3,303 Member
    why is everybody stating a positive and a negative number? i am only asking for federal tax return. it cant be both negative and positive. just net the number.

    geez so many einsteins in herrre
  • bperkins88
    bperkins88 Posts: 357 Member
    $3000.00 Net
  • MizTerry
    MizTerry Posts: 3,763 Member
    Oh, this fella is probably rollin in the dough
  • bheathfit
    bheathfit Posts: 451 Member
    Norm expected a refund of $486.

    Unfortunately, since Norm actually has a JOB, he did not calculate the health insurance penalty and the fact that he does not drive an Escalade, live in section 8 housing and does not receive $1500 in food stamp money every month.

    Norm now owes the federal government $10,836.29. Due immediately... He has been arrested, accounts frozen, assets seized and is scheduled to be housed in Guantanamo Bay after losing his American Citizenship to the IRS...

    Sorry Norm... You work, you lose...
  • bperkins88
    bperkins88 Posts: 357 Member
    Norm expected a refund of $486.

    Unfortunately, since Norm actually has a JOB, he did not calculate the health insurance penalty and the fact that he does not drive an Escalade, live in section 8 housing and does not receive $1500 in food stamp money every month.

    Norm now owes the federal government $10,836.29. Due immediately... He has been arrested, accounts frozen, assets seized and is scheduled to be housed in Guantanamo Bay after losing his American Citizenship to the IRS...

    Sorry Norm... You work, you lose...

    roflmao awesome post. hahaha
  • NormInv
    NormInv Posts: 3,303 Member
    Norm expected a refund of $486.

    Unfortunately, since Norm actually has a JOB, he did not calculate the health insurance penalty and the fact that he does not drive an Escalade, live in section 8 housing and does not receive $1500 in food stamp money every month.

    Norm now owes the federal government $10,836.29. Due immediately... He has been arrested, accounts frozen, assets seized and is scheduled to be housed in Guantanamo Bay after losing his American Citizenship to the IRS...

    Sorry Norm... You work, you lose...

    haha sad but true
  • heylookitsval
    heylookitsval Posts: 1,141 Member
    He owes $72

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