IRS Refund Mistake

[JHanc968]

I would hope that no one would be getting an IRS refund check in the hundreds. If you are, you need to change your withholdings. Why should you allow the government to use your money all year?

I have known people who brag about getting back hundreds of dollars. The government is using your money interest free. Why not have the correct amount held out and use the rest to get debt free?

[sweetpea1269]

I like getting the money back, to me its just like a savers club, the money goes, I don't miss it and I get a sizable check at the beginning of the year. If I had it in my check, it would surely be spent and not saved. I have no problem with the whole interest free loan thing. To me its win-win. Sure interest would be nice but, like I said if it were up to me...we'd have nothing saved.

[PrincessPeach06]

My hubby claims all of us and we get $4000-$5000 back (they don't take out much at all). He claims 0 for state but only because everyone we know always seems to owe the state and we don't want to.

[Mama032908]

This!! :)

Quoting aubsmom09:

We like to even out or get a small refund at the end of the year.  I like to be in control of our money and not have the IRS in control of it for the whole year.

Some of my friends like to get a big refund because they go on vacation with it, pay for something with cash, etc.  and they won't have to dip into their savings account for it.

I guess you have to decide what is best for your situation.  To those that get back more than they paid in, I'm jealous.  :)

[ladybugmom2010]

You are so right. I work for the Navy and I had to adjust my witholdings because too much was being taken out.

Quoting JHanc968:

If you are getting "hundreds" of dollars back it usually means you are having too much taken out of your paycheck.

Quoting mommaFruFru:

sorry im confused. i dont understand, but then again ive neer paid taxes 

[hfaddis]

We are getting a good amount back but mainly because of the earned income credit. it will help alot on helping us get ahead though =)

[lacycc]

I wouldn't be jealous of anyone getting back more than they paid in.   Most people would rather be making what you are making all year and get nothing back then to make so much less that you get more than you paid in. 

[critter_boo]

i like the way it is

[nmaxwell816]

I like being able to look forward to having a large refund

[Jukebox_Jenny]

"I would hope that no one would be getting an IRS refund check in the hundreds."

Why? It in no way affects you.

[Lisa0626]

Good advice.