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How much is your gross income and how much will your income tax refund be?

 
Anonymous

Asked by Anonymous at 7:52 PM on Jan. 30, 2011 in Money & Work

This question is closed.
Answers (21)
  • I honestly don't think it's bad for lower income people to not have any tax liability at all. But getting money back that they didn't pay in seems a bit messed up. I mean if they had to apply for it and it was like assistance and only temporary then yeah sure.

    But the bottom line is if you made any kind of money you have to file taxes. And if you qualify for EIC or Child tax credit then you get that. It's not a personal choice that you make it's just the way it is.
    Erica_Smerica

    Answer by Erica_Smerica at 9:50 PM on Jan. 30, 2011

  • Gross $149K. We have not recieved a refund in 10 years. This years we owe an additional $3300. That is after having S00 withheld PLUS an extra $300 a month taken out.
    Anonymous

    Answer by Anonymous at 7:58 PM on Jan. 30, 2011

  • Anon, the more you earn, the more you pay. We pay in every year, anywhere from $10,000-$15,000, depending on our deductions.
    JulieJacobKyle

    Answer by JulieJacobKyle at 8:03 PM on Jan. 30, 2011

  • $51,000 owe $2700.
    Why are people getting voted down for their answer?
    nicjon

    Answer by nicjon at 8:48 PM on Jan. 30, 2011

  • enough :)
    MommyH2

    Answer by MommyH2 at 7:55 PM on Jan. 30, 2011

  • LOL You are right, doesn't seem fair does it? This is what we mean when we say 50% of Americans don't pay taxes. Someone who makes 15,000 doesn't come close to paying $5,000 in taxes therefor they get all their taxes paid and then some back.
    itsmesteph11

    Answer by itsmesteph11 at 8:07 PM on Jan. 30, 2011

  • Pay in your fair share of taxes?

    Well when you get it back in the form of EIC that makes you paying nada in taxes.

    Zip.
    Anonymous

    Answer by Anonymous at 8:44 PM on Jan. 30, 2011

  • #11 anon- it is actually very possible to earn $15,000 a year and get a $5000 tax refund. If you have, for example, 3 children married filing jointly you could get $3000 back right off the bat from the child tax credit. And then the earned income tax credit could get you another $5666.

    http://www.irs.gov/pub/irs-pdf/p596.pdf

    I don't think it's right for the Government to give away money we don't have to people that didn't ask for it. But I also don't think we should get mad at lower income people for getting that credit.
    Erica_Smerica

    Answer by Erica_Smerica at 9:54 PM on Jan. 30, 2011

  • 47K and some change
    $3300
    Anonymous

    Answer by Anonymous at 7:54 PM on Jan. 30, 2011

  • $15,000 and $5,000
    Anonymous

    Answer by Anonymous at 7:56 PM on Jan. 30, 2011