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08 19, 19, 05:02:19:PM

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The reason the Left is pushing this 'White Supremacist'
mantra is against the Right is because they are sooo
damned afraid of losing the Black Vote, that they have to Lie..

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 |  All Boards  |  Current Events  |  Topic: Taxpayers Thank Trump for Less Refunds This Year & Lower Amounts 0 Members and 1 Guest are viewing this topic.
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Author Topic: Taxpayers Thank Trump for Less Refunds This Year & Lower Amounts  (Read 217 times)
Oscar_LaVista
Sr. Member

Posts: 17802

I need more cowbell! And walls!


« on: 02 09, 19, 05:42:24:AM » Reply

MAGA-  cut taxes for the rich and big corporations- make everybody else pay for it, cut funding for those who really need help!!

Average tax refunds were down last week 8.4 percent for the first week of the tax season over the same time last year, according to the Internal Revenue Service. Dipping refunds are inflaming a growing army of taxpayers stunned by the consequences of the Trump administration’s tax law — and the effects of the partial government shutdown.

The average refund check paid out so far has been $1,865, down from $2,035 at the same point in 2018, according to IRS data. Low-income taxpayers often file early to pocket the money as soon as possible. Many taxpayers count on the refunds to make important payments, or spend the money on things like home repairs, a vacation or a car.

The IRS had estimated it would issue about 2.3 percent fewer refunds this year as a result of the changes in the federal tax law, according to Bloomberg. MSNBC reports that 30 million Americans will owe the IRS money this year — 3 million more than before Trump’s tax law.

“There are going to be a lot of unhappy people over the next month,” Edward Karl of the American Institute of CPAs told Politico. “Taxpayers want a large refund.” Some 71 percent of taxpayers received refunds last year worth about $3,000 on average, according to Karl.

Scads of taxpayers are complaining on Twitter that they have always received a refund — but now owe the IRS instead.

The number of refunds sent out by the IRS was also down — about 24 percent — as the agency struggled to get up to speed after the government shutdown. The agency sent out about 4.67 million tax refunds in the week ending Feb. 1, compared with about 6.17 million in the same period in 2018, according to IRS data.

This year’s filing season, which began two days after the shutdown ended on Jan. 25, is complicated because it’s the first after the 2017 tax law was enacted. Though President Donald Trump boasted that the new code would be so simplified that people could file their taxes on a postcard, that’s not the case.

In addition, the changes complicated payroll withholding, so that not enough money was withheld by employers in many cases, meaning that people now owe more taxes. The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.

The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.

https://www.freep.com/story/money/personal-finance/susan-tompor/2019/02/08/early-tax-refund-amounts-smaller/2813134002/

this is how Trump reacted to the news-

D2D
Republicans believe every day is the fourth of July! Democrats believe every day is April 15!
Sr. Member

Posts: I am a geek!!


« Reply #1 on: 02 09, 19, 07:37:18:AM » Reply

https://www.wsj.com/articles/early-data-show-slower-start-to-tax-season-11549653138

That is because withholding was reduced!

Less withheld less refunded!

You are truly desperate!
dont-blameme
Contributor
Sr. Member

Posts: 62110


« Reply #2 on: 02 09, 19, 08:59:51:AM » Reply

Have you noticed hoosier the ho gets worse with each passing day.
Oscar_LaVista
Sr. Member

Posts: 17802

I need more cowbell! And walls!


« Reply #3 on: 02 09, 19, 09:00:51:AM » Reply

learn to read. 
wvit1001
Sr. Member

Posts: I am a geek!!


« Reply #4 on: 02 09, 19, 09:02:21:AM » Reply

So withholdings were reduced.    You didn’t get an actual tax cut?   
dont-blameme
Contributor
Sr. Member

Posts: 62110


« Reply #5 on: 02 09, 19, 09:08:29:AM » Reply

Lower tax rate means less will be with held, from each and every paycheck means the person can use the money each pay period instead of getting it at the end of the tax year. So yes they got a tax cut, so hoosier the working class are now among the rich and enjoying more money in their pocket right!
August West
Sr. Member

Posts: 11279


« Reply #6 on: 02 09, 19, 09:16:35:AM » Reply

Hoosier wasn`t asking for free stuff through tax cuts. Why don`t Republicans want to pay down the nation`s debt? They want free stuff obviously.
Oscar_LaVista
Sr. Member

Posts: 17802

I need more cowbell! And walls!


« Reply #7 on: 02 09, 19, 09:16:56:AM » Reply

nope. everybody but the rich got played.  especially a whole large percentage of low info, not high school graduate workers like you. 

dont-blameme
Contributor
Sr. Member

Posts: 62110


« Reply #8 on: 02 09, 19, 09:23:51:AM » Reply

Why didn't your boy yobama pay down the debt instead of increasing it over 10 trillion dollars auggie poo?
Dan
Contributor
Sr. Member

Posts: 86630

Tolerance is a 2-way street


« Reply #9 on: 02 09, 19, 10:43:45:AM » Reply

DLH,

What do refunds have to do with how much you pay in taxes?  NOTHING!

Refunds measure only how much you OVERPAID!  Ideally, you want your refund to be zero.  Why give the government an interest free loan?
Dan
Contributor
Sr. Member

Posts: 86630

Tolerance is a 2-way street


« Reply #10 on: 02 09, 19, 10:47:49:AM » Reply

Quote
So withholdings were reduced.
[/HIGHLIGHT][/SIZE][/FONT]



Because tax rates were reduced, duh!

Quote
You didn’t get an actual tax cut?
[/HIGHLIGHT][/SIZE][/FONT]


They did indeed.  Learn to read.
Dan
Contributor
Sr. Member

Posts: 86630

Tolerance is a 2-way street


« Reply #11 on: 02 09, 19, 10:52:37:AM » Reply

Quote
everybody but the rich got played.
[/HIGHLIGHT][/SIZE][/FONT]



Really?  Then why did everyone BUT the rich in Democrat states get a tax cut?


Only high income earners in high tax Democrat states had to pay higher federal taxes ... Because of the elimination of SALT deduductions.


Please stop lying, DLH.
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