What are you going to do with it? Mine is awesome (yay for $2500 education credit), so I think I am going to pay off my truck loan.

Dunno how much I will get, but I am also planning to pay off a vehicle loan.

Hookers and Blow.

Or maybe continue paying things like Rent, Electricity and groceries.

I have to pay $583 fed and state because I didn't know what I was doing on my W-4 and claimed 2.

I didn't read the second bit because you have the right answer there.

That happened to me last year...

any time i see something "and Blow" i always think of the ween song, Bananas and Blow.

i also havent seen my W2s yet.

I usually get somewhere between 4-5k. I will be doing some improvements to the house.

Refund? Hah, the IRS wasn't satisfied with the thousands I already gave them, so they wanted more.

And I got screwed out of the new car sales tax credit by buying my car 3 weeks too early.

I'll probably be getting ~100 dollars back again this year. It'll just get absorbed into my checking account.

I pay no tax.

'Cept for, you know, VAT. And probably other taxes.

Hurray for unemployment!

I'm going to save it.

I'll probably buy Hawaii

We are going to buy a new washer + dryer and then put the rest on our one remaining credit card.

Been more or less unemployed since the end of 2007.

Few job paychecks here and there, but the jobs didn't last long enough to file taxes. I did a bunch of jobs doing training and never made it past that.

Did some handy work under the table.

Been pretty much broke since 2007. Living with friends or family.

fml

GET A JOB YOU HIPPY

and a haircut


(no idea, definitely more then last years ~$500)

were probably going to get the husband a laptop then save for baby stuff.

probably make some speaker upgrades for my HT setup

depends on how much i get though... still waiting on those W2s

I thought you were blaming HR for that one?


I usually get about $1000 back, but this is the first full year I didn't go to school, so I won't get the education credit. I still have charitable donation deductions, but I don't know how much (if any) the IRS will return. If I do get anything back, it will go towards a motorcycle helmet and the Motorcycle Rider Safety Course for Wife so she can get her license.

What's a refund?

Are you being facetious?

I don't see the logic here; the debt is skyrocketing, a state is bankrupt, and you're trying to fix health care... so give people free money?

A refund isn't free money. If you pay TOO MUCH taxes (as most Americans do) you get the extra back at the end of the year. Essentially, the Government makes interest on billions a year, and who knows where it goes.

Be quiet Tibby, you're Canadian. You don't know what you're talking about. It's not free money. It's MY money.

A Tax refund (or return) is a check a taxpayer receives from the federal government (state too, but to a lesser extent). Most employers retain a portion of each paycheck (weekly, monthly, whatever) and send it to the feds for income taxes on behalf of the employee.

At the end of the year, the feds may have, for example 35% of the income that I earned. Then, when I process my taxes, it may turn out that I only owed the feds 25% of my income, so I am entitled to receive back the difference - 10%. This is the tax return. It's money that the feds received throughout the year that did not belong to them. It's not stealing; the taxpayer can decide how much to give them.

Each taxpayer can adjust how much their employer withholds (if any), but is responsible to pay whatever is owed at the end of the year. Some people, like dalf, did not pay enough throughout the year, and so owe more money at the end of the year. Some people, like Outlaw Torn, pay too much throughout the year and get back a large sum. Most taxpayers are accustomed to having a certain amount withheld, and their payceck take home pay is what they work with each month, so their tax return feels like a bonus (free money, as you put it), even though it's really income they earned but gave to the feds in excess.

Oh I see, thanks for pointing that out.

For the record, we have the same thing in Canada, Tibby is just too young and ignorant to know anything about it.

For the record, the general assumption is that Tibby is just to young and ignorant to know anything about anything.

Oh yea, well that too

We get our tax refunds at the end of the year as well... of course it's from the year before (i.e. we got the refunds from 2008 in December 2009) and I only got back into that "having a steady income" thing last year so woo only 11 months left to get... 12 euros perhaps? Oh boy!

People who are smart financially would tell you that your situation, having to pay a little at the end of the year, is preferable to getting a refund. I know that doesn't do much to make you feel better especially when you see so many people that don't pay any income tax get a several thousand dollar "refund". On that note Tibby would actually have a valid question.

This is entirely true. It means you are getting your money on a regular basis (when you need it) instead of a lump sum. It's hard to tell the cable company you'll pay your extra $100 a month for premium HD DVR service in one lump sum when you get your tax refund in 10 months.

If you are living paycheck to paycheck, you probably shouldn't be paying an extra $100/mo for premium HD DVR service.

Just my opinion.

Fencing in my backyard and buying a bedroom furniture set.

my first thought was a bit more awesome than what you clearly meant

I did some fencing in my backyard once.

Grass is not very good to practice fencing on. :tard:

ah who's the :tard: now wrong forum for that one

Well, most people making the point would say something more along the lines of it doesn't make sense to give the government an interest free loan.

I'll probably use it on house repairs or vehicle repairs. Wifey wants a Wii with Wii Fit. Which is also fine by me, but not the way I wanted to enter the console world.

Wait I have a job, do i get a refund?

Very true. However, I think a lot of people tend to absorb that additional income into their everyday expenses (rather than putting it aside), so by paying too much during the year, people can get a lump sum that they otherwise wouldn't have.



If you paid more in taxes than you need to, yes. [url]www.turbotax.com[/url] will let you file your federal return online for free. There's a small fee for state taxes (none to worry about in NH :D).