Tired of not-winning? ... Average Tax Refunds Down 8.4 Percent As Angry Taxpayers Vent On Twitter

[Admiral Rockwell Tory]

Employer withholding went down, so even with lower taxes, the refunds would be smaller. The point was for people to get more in their pockets come payday.

.

So for these people with withholdings the same as 2017, and thousands less in refunds due to changes in the new tax law, you are saying they are getting more $ in their pockets? No, that's not how this math works.

Uh, yeah, it is how this works! Dumbass rookie!

See the red text above. The withholdings are NOT the same in 2018 as they were in 2018. They were lower in 2018, hence a lower refund.[/QUOTE]

Actually the people posting their W-2's are showing higher tax payments due to fewer deductions. Sorry kiddo. Paying MORE in taxes with LESS deductions does not help you get more money in your pocket. Maybe next time take basic basic math. Like the stuff you learn in 1st grade. Then return and tell me how the Gov't taking MORE equals more money in your pocket.[/QUOTE]

Fewer deductions is not what you said. Try reading it again.

The cap on SALT is your problem if you live in a state where you pay ridiculously high state and local taxes. Fix that problem and it will fix your federal return.

By the way, W-2s don't show deductions, you ignorant ass!

I shouldn't have to pay more taxes to supplement your choice of where to live.

 

[justoffal]

The feces has hit the fan at tax refund time as low and middle-class Americans are finding that Trump has his hand in their pocket and has stolen money from their refunds.

The wealthy are still doing just fine. The lies about the Trump tax cuts is now exposed that the low and middle class are financing the tax cuts for the wealthy people and corporations.

Donald Trump won't be able to spin his way out of the tax cut lie.

Average Tax Refunds Down 8.4 Percent As Angry Taxpayers Vent On Twitter | HuffPost

Average Tax Refunds Down 8.4 Percent As Angry Taxpayers Vent On Twitter
Many workers who had always gotten a refund find out they now owe the IRS.
headshot
By Mary Papenfuss

Average tax refunds were down last week 8.4 percent for the first week of the tax season over the same time last year, according to the Internal Revenue Service. Dipping refunds are inflaming a growing army of taxpayers stunned by the consequences of the Trump administration’s tax law — and the effects of the partial government shutdown.

The average refund check paid out so far has been $1,865, down from $2,035 at the same point in 2018, according to IRS data. Low-income taxpayers often file early to pocket the money as soon as possible. Many taxpayers count on the refunds to make important payments, or spend the money on things like home repairs, a vacation or a car.

The IRS had estimated it would issue about 2.3 percent fewer refunds this year as a result of the changes in the federal tax law, according to Bloomberg. MSNBC reports that 30 million Americans will owe the IRS money this year — 3 million more than before Trump’s tax law.

“There are going to be a lot of unhappy people over the next month,” Edward Karl of the American Institute of CPAs told Politico. “Taxpayers want a large refund.” Some 71 percent of taxpayers received refunds last year worth about $3,000 on average, according to Karl.

Scads of taxpayers are complaining on Twitter that they have always received a refund — but now owe the IRS instead. ...

Total Bullshit....
If they owe it's not because of the changes.
It's because they didn't do their exemptions correctly.

Jo

 

[SandSquid]

[/QUOTE]

Total Bullshit....
If they owe it's not because of the changes.
It's because they didn't do their exemptions correctly.

Jo[/QUOTE]

lol. This is EXACTLY what financial experts last year said would happen with the new tax bill as Trump and his people said "no no no". And now it is occurring EXACTLY how they said it would with those who are struggling hit the hardest so the rich can get their tax breaks.

And people are acting surprised? It was the plan. This is how it works. Less for the working man, more for the CEO.

 

[Denizen]

Total Bullshit....
If they owe it's not because of the changes.
It's because they didn't do their exemptions correctly.

Jo[/QUOTE]

lol. This is EXACTLY what financial experts last year said would happen with the new tax bill as Trump and his people said "no no no". And now it is occurring EXACTLY how they said it would with those who are struggling hit the hardest so the rich can get their tax breaks.

And people are acting surprised? It was the plan. This is how it works. Less for the working man, more for the CEO.[/QUOTE]

The families of CEOs have to eat too.

 

[Admiral Rockwell Tory]

Total Bullshit....
If they owe it's not because of the changes.
It's because they didn't do their exemptions correctly.

Jo[/QUOTE]

lol. This is EXACTLY what financial experts last year said would happen with the new tax bill as Trump and his people said "no no no". And now it is occurring EXACTLY how they said it would with those who are struggling hit the hardest so the rich can get their tax breaks.

And people are acting surprised? It was the plan. This is how it works. Less for the working man, more for the CEO.[/QUOTE]

Why are people struggling? My paycheck went up, because my withholding went down, and because of some personal decisions regarding my retirement, I had my largest refund in 24 years!

You are just too stupid to realize that most people benefited. The only losers were those who live in libtard states and get raped by their state and local governments..

 

[SandSquid]

Employer withholding went down, so even with lower taxes, the refunds would be smaller. The point was for people to get more in their pockets come payday.

.

So for these people with withholdings the same as 2017, and thousands less in refunds due to changes in the new tax law, you are saying they are getting more $ in their pockets? No, that's not how this math works.

Uh, yeah, it is how this works! Dumbass rookie!

See the red text above. The withholdings are NOT the same in 2018 as they were in 2018. They were lower in 2018, hence a lower refund.

Actually the people posting their W-2's are showing higher tax payments due to fewer deductions. Sorry kiddo. Paying MORE in taxes with LESS deductions does not help you get more money in your pocket. Maybe next time take basic basic math. Like the stuff you learn in 1st grade. Then return and tell me how the Gov't taking MORE equals more money in your pocket.[/QUOTE]

Fewer deductions is not what you said. Try reading it again.

The cap on SALT is your problem if you live in a state where you pay ridiculously high state and local taxes. Fix that problem and it will fix your federal return.

By the way, W-2s don't show deductions, you ignorant ass!

I shouldn't have to pay more taxes to supplement your choice of where to live.[/QUOTE]


Yes, more money into taxes does not equal more money in your pocket. Same W-2 withholdings with less deductions than the previous year equals paying more taxes. Please please please EDUCATE YOURSELF.

And as for the 2nd, do you really agree on that? I mean look at the states with the highest federal funding vs. what they put in. The South, the midwest. Should states like California and NY not have to fund the red states? Should we just pay back even? Force for example Alabama to raise it's state taxes by 2000%?

 

[SandSquid]

Total Bullshit....
If they owe it's not because of the changes.
It's because they didn't do their exemptions correctly.

Jo

lol. This is EXACTLY what financial experts last year said would happen with the new tax bill as Trump and his people said "no no no". And now it is occurring EXACTLY how they said it would with those who are struggling hit the hardest so the rich can get their tax breaks.

And people are acting surprised? It was the plan. This is how it works. Less for the working man, more for the CEO.[/QUOTE]

Why are people struggling? My paycheck went up, because my withholding went down, and because of some personal decisions regarding my retirement, I had my largest refund in 24 years!

You are just too stupid to realize that most people benefited. The only losers were those who live in libtard states and get raped by their state and local governments..[/QUOTE]

Awww.... someone's triggered because the tax plan worked exactly as badly as every financial and tax expert said it would and now can't take reality so you cry for a safe space. Piss off.

 

[Admiral Rockwell Tory]

Employer withholding went down, so even with lower taxes, the refunds would be smaller. The point was for people to get more in their pockets come payday.

.

So for these people with withholdings the same as 2017, and thousands less in refunds due to changes in the new tax law, you are saying they are getting more $ in their pockets? No, that's not how this math works.

Uh, yeah, it is how this works! Dumbass rookie!

See the red text above. The withholdings are NOT the same in 2018 as they were in 2018. They were lower in 2018, hence a lower refund.

Actually the people posting their W-2's are showing higher tax payments due to fewer deductions. Sorry kiddo. Paying MORE in taxes with LESS deductions does not help you get more money in your pocket. Maybe next time take basic basic math. Like the stuff you learn in 1st grade. Then return and tell me how the Gov't taking MORE equals more money in your pocket.

Fewer deductions is not what you said. Try reading it again.

The cap on SALT is your problem if you live in a state where you pay ridiculously high state and local taxes. Fix that problem and it will fix your federal return.

By the way, W-2s don't show deductions, you ignorant ass!

I shouldn't have to pay more taxes to supplement your choice of where to live.[/QUOTE]


Yes, more money into taxes does not equal more money in your pocket. Same W-2 withholdings with less deductions than the previous year equals paying more taxes. Please please please EDUCATE YOURSELF.

And as for the 2nd, do you really agree on that? I mean look at the states with the highest federal funding vs. what they put in. The South, the midwest. Should states like California and NY not have to fund the red states? Should we just pay back even? Force for example Alabama to raise it's state taxes by 2000%?[/QUOTE]

You seem to be confused by the terms W-2, W-4,withholding and deductions, Withholding is a rate set based on what they determine your taxes will be, and can be modified on your W-4. If you fuck that up, it is your own fault. Deductions are on your tax return and the amounts withheld are on your W-2.

California and NY fund the military which is predominantly based in the south. That is where the imbalance occurs. My state has two large Army posts.I guess you don't think those expenditures amount to much.

You are terminally confused. Why would Alabama raise its state taxes? What does that have to do with federal income tax?

I have had high school students with a better grasp of how taxes work, and they don't pay income tax! Why are you so stupid on this topic? Libtard?

 

[Admiral Rockwell Tory]

Total Bullshit....
If they owe it's not because of the changes.
It's because they didn't do their exemptions correctly.

Jo

lol. This is EXACTLY what financial experts last year said would happen with the new tax bill as Trump and his people said "no no no". And now it is occurring EXACTLY how they said it would with those who are struggling hit the hardest so the rich can get their tax breaks.

And people are acting surprised? It was the plan. This is how it works. Less for the working man, more for the CEO.

Why are people struggling? My paycheck went up, because my withholding went down, and because of some personal decisions regarding my retirement, I had my largest refund in 24 years!

You are just too stupid to realize that most people benefited. The only losers were those who live in libtard states and get raped by their state and local governments..[/QUOTE]

Awww.... someone's triggered because the tax plan worked exactly as badly as every financial and tax expert said it would and now can't take reality so you cry for a safe space. Piss off.[/QUOTE]

You are the one who is triggered, because you are bitching about something you don't even recognize is not true! The new tax plan works for me. You are the one who seems to misunderstand the entire concept there, Buckwheat!

 

[jc456]

Doesn’t everybody with any iQ seek advice from a tax professional when there are revolutionary revisions made within the tax code?

Middle class people do not. Usually that is reserved for upper middle class and higher people.

WOW!
H&R Block = $45
Quicken = $45

By then it is too late. They do not give financial advice.

that's correct, Edward Jones, Prudential, Fidelity , Merrill Lynch, they all give financial advice. dude you need to go to school. I'm just saying, we're done trying to educate you in here.

For a price. However the fact is that the IRS had to interpret what was passed by Congress. Again the Republicans got their hands caught in the cookie jar. You are too partisan to admit it. The same thing happened to Obama. He cut withholding and received little credit whereas George W Bush sent out checks and people noticed. The smart thing to do would have been to retain the withholding tables and let people decide whether to change their withholding after seeing what their taxes are after the tax changes.

everything is fine. thanks,