Posted on 02/24/2015 1:50:02 PM PST by E. Pluribus Unum
so much for free health care or saving $2500!
A lot of EIC in those “refund” numbers.
I don’t think it is “locking up” so much. It’s from the EIC is my guess.
That is why you see so many big ticket items advertised during tax season. The only way a lot of us can pay cash for these items is with those tax refund checks.
“It’s costing taxpayers a large percentage of their refund – a refund many of them count on to pay household expenses,” Mark Ciaramitaro, vice president of H&R Block health care and tax services, wrote in a statement.
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A lot of these folks count on their tax ‘refund’ to pay off their Christmas bills & make large, needed purchases like appliances when old ones go kaflooey. This is going to cause some kind of wailing & gnashing of teeth ..... no opportunity should be missed to remind these folks WHO voted for OBAMAcare. Not.one.single.Republican.
Most people look at it as a forced savings. They’ll spend their last dime if it’s in their pocket so it’s better to have the government save it for them. It’s the only way they’ll ever have that amount of cash all at once.
I have plenty of low income relatives that love their refunds.
I used to have just or not quite enough held out of my paycheck. I’d rather pay in a little at tax time than let the government use my money interest free.
Now that I’m retired, I don’t have anything withheld and pay the entire amount at tax time.
Why would someone lock up so much money all year long? Shaking my head....
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The majority aren’t ,, this is likely EITC refund dollars not cash overpayments being refunded.
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