Average Tax Refund in US down 8 percent

[Lamb]

https://www.cnn.com/2019/02/09/politics/tax-code-early-returns-data/index.html

I'm not used to getting back a ton of money on taxes so 8 percent really doesn't sound like a big number.

 

[tango]

https://www.cnn.com/2019/02/09/politics/tax-code-early-returns-data/index.html

I'm not used to getting back a ton of money on taxes so 8 percent really doesn't sound like a big number.

I find it the idea of overpaying taxes throughout the year and then getting it back quite remarkable. Why would anyone choose to give an interest-free loan to the government? What makes it even weirder is the idea that getting a tax refund is some kind of bonus - it's nothing more than getting your own money back.

 

[Lamb]

I find it the idea of overpaying taxes throughout the year and then getting it back quite remarkable. Why would anyone choose to give an interest-free loan to the government? What makes it even weirder is the idea that getting a tax refund is some kind of bonus - it's nothing more than getting your own money back.

That's what my husband has always said too! That's why we never get the big bucks back at tax time. We've even had to owe some years AND we pay estimated tax at times too

 

[tango]

That's what my husband has always said too! That's why we never get the big bucks back at tax time. We've even had to owe some years AND we pay estimated tax at times too

I've always figured the way to go is to pay as little as you can get away with until you absolutely have to pay it. Of course it only works if you keep a bit back so you can pay it when it's due, but it might as well be sitting in an account earning me interest as sitting in a different account not earning me interest.

 

[Lamb]

I've always figured the way to go is to pay as little as you can get away with until you absolutely have to pay it. Of course it only works if you keep a bit back so you can pay it when it's due, but it might as well be sitting in an account earning me interest as sitting in a different account not earning me interest.

Exactly! The government gets enough of our money. Democrats want to raise taxes next year...I can't deal with that right now. grr