So what's the point of deducting taxes from your check if you get it back at the end of the year?

[vi edit]

What about when you get a nice chunk back at the end of the year because of claiming interest on mortgages and all of your charitable contributions and various other long form deductions?

I don't look at that as a loan to the government. I just see it as a nice bonus at the end of the year. Straight taxes off of income, sure. I'd rather have more money throughout the year than lump sum at the end, but it's just a pain in the butt to try and figure out what I should do withholding wise throughout the year when I've got anywhere from $5000-$12000 in deductions at the end.

But, that's just me.

 

[Hayabusa Rider]

What is not good is if you underpay by too much, and then some financial catastrophy hits. Hard to tell Uncle Sam on the 15th, that you aint got the cash. Like telling the mafia you cant pay. Bad, very bad.