It's nearly income tax day.

[marybourg]

If you overpay your withholding all year so that you get a big tax refund, remember that when you do that you're giving the government an interest-free loan. Better to have only the correct amount - more or less - withheld, put the money into your own savings account, get the interest yourself and don't give the gub'mint, err, I mean the government, a free loan for a year. Know what I mean?

[shraby]

1. That's all well and good, but savings accounts pay less then 1% now.

[marybourg]

2. But - how does it hurt for YOU to get

to hold you own money plus 1%, rather than Mr. iRump using it for up to 17 months?

[HipChick]

3. What would happen if everyone decided NOT to pay taxes

Just like Trump....with him gutting the IRS

They would be overwhelmed

[marybourg]

4. Well, we don't have to go as far as not paying taxes -

that could get you jail-time, but we don't have to pay up early and give him an interest free loan for up to 17 months, do we?

[HipChick]

5. Trump seems to be very good at evading jail..

so far...

[shraby]

6. Actually I don't have to deal with that anymore. Mr. Shraby and I are both in our

70s with just enough income to live but not LIVE.

When we did have withholding taken out of checks, we always claimed no dependents on our withholding statement. With 4 kids it was the only way we could put money aside all year. If we put it in the bank, there was always something that took it right back out...doctor bill, new tires on the car, etc.
In the spring when we filed and got a pretty good sum back, we used it to buy a luxury like a t.v. that worked right, new furniture, maybe a new carpet. New bikes for the kids. Worked good for us.

[marybourg]

7. Then my suggestion was not aimed at you. nt

[Kimchijeon]

8. Good point

Also would be nice if refunds were issued in a timely manner!

[spanone]

9. for a self-employed taxpayer like myself, there's more than plenty of time.