Quote:
Originally posted by on-ramp
Did you know that your tax return money is income and is taxed for the next year?
|
No, and that does not seem right. It means that not only the govt. would be earning interest on your overpaid taxes of the present year, and then tax you again for the next year on that same money they already gave back to you.
When I fill my taxes, I only get taxed on the state refund, not the federal.
This year, with a new baby and being married, I am getting $12,484 back. I am having two rotten trees taken down in my yard, then putting up a new fence, then...a lot more work to do on the house.
Aurel