Obama's Tax Credit...Oops! Be prepared to return some of it.

[dmcowen674]

http://www.msnbc.msn.com/id/33974446/ns/business-tax_tactics/

Well it seems that some people were overpaid and will now have to return some of that juicy cash. Reverse stimulus, here we come!

Good, hope it nails everyone in here.

Yes including me.

 

[Red Dawn]

So 15 million people got more than the alloted amount they were suppose too and now they are getting screwed by having to pay it back?

 

[Robor]

JFC the whiney douches are out in force lately.

 

[waggy]

Tell that to people who collect Medicare or use the VA.

IF thats what you are putting up as well run goverment healthcare then s hit i really hope it does nto pass.

 

[rudder]

Originally Posted by Fear No Evil View Post
But we should let them run healthcare!

Tell that to people who collect Medicare or use the VA.

Ask those people on medicare in a few years when the insolvency crisis has gained full steam. And the VA... hit or miss on that one.

 

[CitizenKain]

You are talking about middle class income here. You know, the folks that are struggling so much that they needed to see a pittance in their tax witholdings. The folks living paycheck to paycheck unable to get johnny the Christmas present he has been dreaming of all year. Johnny isn't going to get his dream, johnny hoped he would, johnny's parents hoped there would be some change.

Johnny's entire family is hurting, Obama is making them hurt more, that is Barrack Hussein Obama's goal for his end game. Remember - naw, naw, naw, REJECT middle classnessness. Why this is any surprise from this fucker is beyond me, he promised it. FBHO.

This is our President's goal.

Why exactly does Obama want to do this exactly? I'm sure you can go browse freep for an answer.

 

[fskimospy]

Originally Posted by Fear No Evil View Post
But we should let them run healthcare!

Ask those people on medicare in a few years when the insolvency crisis has gained full steam. And the VA... hit or miss on that one.

You do realize that Medicare's insolvency crisis is in a very large part directly linked to the insolvency of our entire health care system, right? It's not a Medicare issue, it's an America issue.

Again, I'm not really sure how personal opinion has somehow become equivalent to actual studies on the effectiveness of the VA.

 

[spidey07]

Why exactly does Obama want to do this exactly? I'm sure you can go browse freep for an answer.

To bring about the social and economic justice he keeps preaching and so desperately desires.

 

[shira]

When you consider that probably millions of Americans are going to end up owing more (or getting a smaller rebate) come April 15th, I think this is pretty huge.

Are you daft? This isn't about "owing more." It's about the fact that some people have received a larger credit than they deserved under the new law, and that error will be corrected when they file their tax return.

You righties are amazing: By your reasoning, if a taxpayer erroneously under-withheld based on having 10 dependents (when there was in fact only a single dependent), then when the error was corrected when the taxpayer actually filed for that year and ended up owing a lot of money, that would be a "tax increase." Well, guess what, this tax-credit take-back is EXACTLY the same thing.

Edit: Example: Some people erroneously received TWO $400 credits because they worked two different jobs and got a $400 credit through each. They were entitled to only one $400 credit. So that extra $400 will be re-paid when they file their 2009 tax return.

 

[Jaskalas]

So wait, what is your argument? Should people get to keep their overpayments?

That is exactly what I say. Better yet, don't pay them at all and you won't have a problem.

 

[CitizenKain]

To bring about the social and economic justice he keeps preaching and so desperately desires.

What a complete non-answer.

 

[Red Dawn]

Are you daft? This isn't about "owing more." It's about the fact that some people have received a larger credit than they deserved under the new law, and that error will be corrected when they file their tax return.

You righties are amazing: By your reasoning, if a taxpayer erroneously under-withheld based on having 10 dependents (when there was in fact only a single dependent), then when the error was corrected when the taxpayer actually filed for that year and ended up owing a lot of money, that would be a "tax increase." Well, guess what, this tax-credit take-back is EXACTLY the same thing.

Edit: Example: Some people erroneously received TWO $400 credits because they worked two different jobs and got a $400 credit through each. They were entitled to only one $400 credit. So that extra $400 will be re-paid when they file their 2009 tax return.

LOL, no shit, what's the problem?

 

[tk149]

1. Old news. Anyone who paid attention to the news at the time this "stimulus" measure was enacted would realize this. But...

2. The government did NOT do enough to spread the information to the public. I think that many many people are going to be surprised by how much they extra they are going to have to pay (or how much less of a refund that they are going to receive) next year. Many of the marginal households are going to be fvcked.

3. Thanks for the reminder. I am going to have to make sure that I put a bit more into savings for the next few paychecks. I forgot about this too.

 

[PricklyPete]

Just in time for Christmas...awesome!

 

[HardcoreRobot]

Yep, we've been over this several times before here. Those who have been patients or have worked for one know they are actually quite good.

Irrelevant. What matters is the efficiency. At what cost did the 'quite good' care come? Subsidizing healthcare through the taxpayer just hides the true cost, it doesn't alter it. If there is something magical the govt can do to actually get more for less, im in. Unfortunately, they cannot. All they can do is play a shell game with the taxpayers money and hope we stay stupid enough to not care.

 

[XZeroII]

Are you daft? This isn't about "owing more." It's about the fact that some people have received a larger credit than they deserved under the new law, and that error will be corrected when they file their tax return.

You righties are amazing: By your reasoning, if a taxpayer erroneously under-withheld based on having 10 dependents (when there was in fact only a single dependent), then when the error was corrected when the taxpayer actually filed for that year and ended up owing a lot of money, that would be a "tax increase." Well, guess what, this tax-credit take-back is EXACTLY the same thing.

Edit: Example: Some people erroneously received TWO $400 credits because they worked two different jobs and got a $400 credit through each. They were entitled to only one $400 credit. So that extra $400 will be re-paid when they file their 2009 tax return.

What part of what I said was incorrect? You're just reading more into my post than I'm actually saying.

 

[piasabird]

I think everyone should protest this year and send in an estimated tax/ extension form.
The federal government needs to get a message.