13.4 million may get unexpected tax bills

[Freddie Stubbs]

Source: Associated Press

WASHINGTON — About 13.4 million taxpayers may be getting unexpected tax bills because they were awarded too much money under President Obama’s Making Work Pay tax credit, a government audit said yesterday.

The tax credit, which expires Jan. 1, was designed to increase take-home pay by about $8 a week through new tax withholding tables. The credit was capped at $400 for individuals and $800 for married couples filing jointly.

However, the credit put millions of taxpayers at risk for not having enough taxes withheld from their paychecks, resulting in a tax bill when they file their returns, said the audit by J. Russell George, the Treasury Department’s inspector general for tax administration.

Those at risk included people with multiple jobs, married couples who both work, Social Security recipients who also work, and young workers who are also claimed as dependents on their parents’ tax returns.

Read more: http://www.boston.com/news/nation/washington/articles/2010/12/17/134_million_may_get_unexpected_tax_bills/

[ZombieHorde]

1. When I am working, I always have extra tax money taken out of my pay checks, just in case. nt

[butterfly77]

2. Is there any damn bill..

that they can come up with that doesn't have someone owing or paying something? The only people who don't seem to be paying are the rich and they get things free just because they are rich too..

[clixtox]

3. As always...

Royalty is revered by the quiescent masses, and the uber-rich are the potentates of our times.

Grin and bear it, suckers!

Obviously they are God's one one-hundreth of a percent, or fewer, chosen, and the rest of us are just so much exploitable, disposable, cattle.

What to do?

Drugs?

Flee?

Be complicit?

Watch TV?

[No Elephants]

9. You forgot posting on message boards.

[Michigan-Arizona]

4. Sad isn't it? n/t

[CoffeeCat]

5. This is so over-the-top REVOLTING!!!!!!

The government made a mistake!! The government (that bailed out the banks,
and just gave tax breaks to millionaires and billionaires) should damn well
suck it up and call it a loss.

Is anyone as outraged as I am????? Seriously. This is SICK!

To screw up---and then demand that Americans fork over a chunk of money--because of
your screw up--especially in these harsh economic times---is unimaginable.

And look at the demographics that will be affected. Those working multiple jobs (just trying
to keep their head above water!). Households with double incomes (sacrificing so much to keep
up while their jobs pay less!). Social Security recipients who have to work (because they're
desperate!).

These are the vulnerable, hard-hit demographics.

I am hitting the ceiling with outrage on this. Am I alone???

[Freddie Stubbs]

6. Congress screwed up in writing the law

Those taxes are currently law, so the executive branch has to follow the law.

Congress could change the law to fix this problem.

[awoke_in_2003]

7. no, you are not...

the systematic attacks against people who can ill afford them is disgusting and revolting. Oh, but we have to get rid of inheritance taxes and make sure the rich keep their tax cuts while we are throwing money down the holes labeled "Iraq" and "Afghanistan".

[old mark]

8. ...as we previously threw money and lives down holes labeled Vietnam

and the Balkans...in order that the current politicians would not be labeled unpatriotic or weak or soft...

We need a new type of government.

mark

[awoke_in_2003]

10. well, a republic is a good one...

too bad ours is just a Potemkin village.

[old mark]

13. Yeah - great in theory, but it has become pretty unworkable in practice, unless

one is very rich.

mark

[No Elephants]

11. You make more money, you owe more taxes. That's how it works.

If I had to pay a milion a year in income taxes, I'd be one happy earner.

[crazyjoe]

12. This crew can't even get a measely $8 tax cut right

maybe having them run health care isn't such a great idea.