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why??? income tax

Anonymous
Posted by Anonymous
  • 9 Replies

 Why do so many of you get so bent out of shape when you hear about those of us getting a refund and/or getting EIC and child tax  credit?

I am low income. I brought home $10,000 last year. I would happily  give up my tax refund in order to make a higher yearly income. I am getting back $5100 This year. I would happily give that up.

Those of us who are getting a refund and getting Eic and child tax credit pretty much depend on that money to get the stuff that is needed that we can not get  throughout the year. Not many of us blow our money. Some people use it to fix their car or to buy another car, some people use it to move ( that is what i am using mine for this year), some people use it to play catch up on bills and/or pay medical bills off.

Granted there are the few who do choose to play with the money buy stupid shit that they don't need. ( I knew someone who did that last year) but  most of us don't. Most of us don't have that advantage, we have more important stuff to do with our money.

Just thought i would put that out there.

Posted by Anonymous on Jan. 31, 2013 at 7:10 PM
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Replies (1-9):
Anonymous
by Anonymous 1 - Original Poster on Jan. 31, 2013 at 7:17 PM

bump

soon2bmomof3619
by on Jan. 31, 2013 at 7:18 PM

I normally buy something that I don't need, but just one fancy want. This year mine will be used to get my children and I out of an abusive relationship. I am thankful for it this year, once I am on my feet I would gladly give it up. Oh I also normally use mine to play catchup and to put money aside for needs throughout the year like clothes and shoes.

Anonymous
by Anonymous 2 on Jan. 31, 2013 at 7:20 PM
I get your point but saying "not many of us blow our money" just seems to be untrue. I think there are more money who blow the money that those who use the money wisely.

But you're right, I'd much rather make $41k and not even get what we paid in, than be super low income with a large refund.
abigailsmommy11
by on Jan. 31, 2013 at 7:23 PM
Wow, we're getting back the same amount as you and my husband made 3x that much. Weird! But yeah, we're using it to catch up on bills. I'll just be happy to have a little bit of stress relieved :)
Anonymous
by Anonymous 3 on Jan. 31, 2013 at 7:25 PM
Eh, we will pay down our debt, we will only one monthly debt payment! Extra 400 a month! So ill take that :)
lovinglife0682
by on Jan. 31, 2013 at 7:26 PM
Then make more money throughout the year. You are the only one who can change your income.
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Anonymous
by Anonymous 1 - Original Poster on Jan. 31, 2013 at 7:34 PM

 easier said than done. my husband was making 10 times that amount 2 years ago. We had no choice in the fact that he got laid off. Tell that to all the people i sent my resume in too that had my education on it but don't want to hire me or even interview me. I took what i could get. what i could get is a job that pays minimum wage.

Quoting lovinglife0682:

Then make more money throughout the year. You are the only one who can change your income.

 

Anonymous
by Anonymous 1 - Original Poster on Jan. 31, 2013 at 7:36 PM

 no we are not getting what we made, we made $10,000 we are getting back $5100. Yes it is half and it is all pretty much EIC and child tax credit.

Quoting abigailsmommy11:

Wow, we're getting back the same amount as you and my husband made 3x that much. Weird! But yeah, we're using it to catch up on bills. I'll just be happy to have a little bit of stress relieved :)

 

Val99
by on Jan. 31, 2013 at 7:37 PM

I get bent out of shape about refunds because refunds are NOT a good thing if you overpaid.  You gave the government an interest free loan, effectively LOSING money for your family.  Many of the people who say they are getting a refund due to over payment are also the people who NEED the money the most and are using the government as a poor man's savings account - only without any interest.  

I don't over pay.  I have a tax attorney that tries to use the amount I will owe as a bullseye.

Earned Income Credit doesn't bother me at all.

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