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catchiamigo | How come I never get any income tax money back. I claim one exeption every year but never get money back? |
Additional Details
I work p/t 26 hours a week. I have adult children and my husband prepares the taxes with no deductions no writeoffs.
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Ashley D.
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Maybe you make too much, I make too little and get all the money back. |
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Mopar 300
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That is good! That means that you are doing your taxes right. You should never "get" money back. That is your money to begin with. You should always try and break even with the Government.... Dont change a thing |
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Alleykat
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I had to tell my work to take more taxes out of my check...that way I overpay and get some money back. It ensures too that I will never owe. |
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Jimmy
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Well, to be honest with you, without knowing your before tax income, your yearly tax deductible contributions, your medical costs, your investment withdrawals, it's a bit hard to give you a valid answer.
I myself claim 1 exemption every year, plus I have an extra $20 taken out of my check every pay period. I'm in the lower middle income bracket, so I usually get the lower end of a refund each year... between $1,000 and $2,000. That is unless I've withdrawn cash from my IRA, in which I usually end up paying.
So, again, without more information, it's a bit to difficult to give you a good answer to your question. |
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Lovely Lady 27
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There is a place you can take extra out of your pay I usually claim 0 and take out an extra $10 out ever pay check you get that back at the end of the year and if you mess up it helps you not have to pay. |
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Cheyenne S
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Maybe you don't claim enough to be taken out of your paychecks to begin with. You will need to update your W-2 at your workplace to change the amount taken out.
-OR-
If you owe a government loan or student loan and haven't been making payments, the IRS will send any refund that you would get to pay that balance first.
Same thing will happen to your stimulus check, if you owe on a student or government loan.
But since this question is listed under the "United Kingdom" category, probably none of this actually applies to you - unless you are in the U.S. and just put your question in the wrong category. |
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ShinShan
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Do you have anything to write off? Do you itemize? Do you own anything? Are you doing your own taxes or do you have a preparer helping you? |
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Jennifer C
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How much do you make? Are you single or married? How many children do you have? |
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Italian Stallion
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ok, income tax is that if you pay over a certian amount of money you have to pay for tax, like over 11,000 a year.
the income taz is simple you get tax free of ya 11,000 thats around 5,000 thats free you can get that any time, the money is divided up equally each day and you loose like £3 a day even less then less easy way to work it out.
take £5,691 from your money ur earning
thats from a year
then by months (12)
then from 48 weeks
then from 364 days
then that will say pay daily
the income tax is confusing they payment of the money is that if you have piad for a item like a £200 juilary and a £199.99 in your bank then your income tax wont come in util you have piad it.
also that if your income tax is not comnig in your bank is trying to buy thing with your moeny for like a day but you will get it back in like a phew days beucase there investing.
you need to work out your income tax with your banker and try and get his veus and advice that you might need, im not a bnaker so i dont know, i do my tax that way, you need a professional. good luck |
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motherpeanutbutterbutinsky
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Probably because you have the wrong person doing your taxes. Call the IRS ands ask them. They have to tell you if youu made a mistake. |
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