Anyone getting a lot less back in taxes?

[ohlas]

opps we are over have to write a check for 1200 to federal government. have to get a 600 from state lol .... oh well and i didnt change a withholding but we did make 4k more this year.


Im more worried about the pentaly for not paying enough up front to the blood sucking irs.

I really hate the whole refund pay thing, Nerdy me loves to fill out the forms, but i hate the whole if your do this we will let you pay less or if your dont do as we say you pay more.

I want a flat National pay or sales flat tax,, I know it will hurt the people that are now getting my 1200 welfare tax money...

 

[HeyIt'sMe]

We are getting back more. We are up to a $1200 refund on State, due to getting a 20% refund ($800) based on our 529 College Fund contribuions of $4000 last year.

I would suggest any Indiana residents take advantage of this nice benefit before someone wises up and eliminates it.

This Indiana resident took advantage of this nice benefit.

 

[punkin]

We are basically getting nothing this year, just like last year. We usually get a little from Federal and have to pay nearly the same amount back to the State.

 

[monarchsfan16]

I'll be getting about $20 more than last year, despite my income (and the amount of tax withheld) tripling this year over last year. No, I did not hit a new tax bracket. I'm a student who is still claimed as a dependent for insurance purposes, so I got screwed over by Making Work Pay. Common sense would tell you to give stimulus money to those who spend most freely (students), but students who are dependents are excluded. So Uncle Sam felt the need to hang onto more than half of what was taken out in withholding this year. Last year, they hung onto $1. What they're hanging onto this year is about 350 times what they did last year

Adding insult to injury the accountant did the math to see where I'd be if I could file independently and my refund would be $800 more than what it is now/what it was last year. Thanks Obama!

 

[amyy]

I am getting about the same amount back as last year. I am in shock as I am now a home owner. I had thought that I would be getting more back as my house payment pretty much goes to interest, I had a metal roof put on etc. I had expected about $2,000 more then what I am getting and HR Block said it is because of Obama's package. I just can't believe it.

(I did get the home credit last year when I bought my house).

 

[riley2008]

I'll be getting about $20 more than last year, despite my income (and the amount of tax withheld) tripling this year over last year. No, I did not hit a new tax bracket. I'm a student who is still claimed as a dependent for insurance purposes, so I got screwed over by Making Work Pay. Common sense would tell you to give stimulus money to those who spend most freely (students), but students who are dependents are excluded. So Uncle Sam felt the need to hang onto more than half of what was taken out in withholding this year. Last year, they hung onto $1. What they're hanging onto this year is about 350 times what they did last year

Adding insult to injury the accountant did the math to see where I'd be if I could file independently and my refund would be $800 more than what it is now/what it was last year. Thanks Obama!

Just ask your parents to NOT claim you as a dependent. I'm sure they'll be thrilled with that. (Actually, your parents may want to run taxes both ways - claiming you and not. Your refund may even be higher with the new Hope Credit - I forgot exactly what they renamed it.) However, IMHO, if your parents are supporting you (even if it's "just" insurance premiums) - you're a dependent and your parents get the break (albeit small).