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Do you have a source for this? Where is it stated that one cannot overpay taxes for the purpose of getting a bigger return? Many people do this as a “savings” a
by orev 5y ago
Do you have a source for this? Where is it stated that one cannot overpay taxes for the purpose of getting a bigger return? Many people do this as a “savings” account as they’re not very good with savings so it sort of forces them to save since they don’t have access to the money.
- allannienhuis 5y agoI believe he was suggesting misfiling, as in under reporting income or overreporting deductions in order to generate a fraudulent refund, which you could then fix/repay in cash (but keep the bonds).
- bombcar 5y agoOverpaying is fine. Intentionally lying such that you get a larger return and then "fixing" the error by filing an amended return is not.
- orev 5y agoI see. “Misfile” vs “overpay”. There’s always some subtlety in finance terms!