Posted on 04/30/2009 11:07:24 PM PDT by ma bell
The government is going to want some of that money back.
The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.
(Excerpt) Read more at finance.yahoo.com ...
If you increase the number of exemptions claimed on your W2, they take less taxes out and workers would be in a bigger hole next year when they file.
I didn’t see any decrease anyway. I’m just waiting for that retroactive tax increase they have up their sleeve to drop.
I personally can’t wait to see how this plays out. I try to bullseye my taxes as much as possible, but most people don’t. A lot of lower-income people who get this credit (and actually work) are going to be in for a very rude awakening when they have to pay because they’re precisely the group most likely to spend their entire paycheck.
Come next April, I can’t wait to see the Chairman stuttering his way through an explanation and Gibbs not having the slightest idea what the hell is going on. This stuff couldn’t have been scripted any better.
bttt
The government is going to want some of that money back. The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.So what's the problem? We all voted for tax increases, right?
truth is...nothing is too much different where I live....
do you suggest decreasing your witholding by claiming an extra dependent?......even if you don't have one....
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