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Even if the tax code didn’t change at all and we still filed our taxes the same way I would support this. A couple of years ago I had to mail my taxes in. It to
by janalsncm 4y ago
Even if the tax code didn’t change at all and we still filed our taxes the same way I would support this. A couple of years ago I had to mail my taxes in. It took them over a year for them to process them. During that time the government owed me over $5000 which may no seem like a lot but I was a poor student. (They sent me a check for a whole $50 in interest.)
There are apparently millions of other tax returns in the backlog. Those returns often represent people like me whose money was locked up. I was fortunate that it didn’t cause me true financial hardship but I’m sure others weren’t so lucky.
- tenuousemphasis 4y agoHow on earth did the government owe you a $5,000 tax return as a poor student?
- whoopdedo 4y agoThe tax code is full of subsidies in the form of "credits". Some are non-refundable, so it only applies up to the amount of taxes you owe. But many are refundable so it can send your tax bill into the negative. That is, a refund. It's a convoluted form of social welfare in all but name.
- janalsncm 4y agoBecause before I was a poor student I was a well-paid software engineer. Not as well-paid as I would’ve liked (and not well-paid enough to buy a degree in cash), but enough to have taxes withheld from my paycheck. The money they owed me was mostly that withheld cash.