Government shutdown impacting you yet?

[Shell B]

If you' re worried about your tax refund - and ESPECIALLY if it' s because you are low income - you are doing it wrong.

I'm self-employed. I literally have to overpay every quarter or I get penalized for late payments. At the end of the year, I get a refund. I want it not because we are poor. We're decidedly not poor. I want it because it's my money.

You need to declare more exemptions - so you have to pay in by April 15th.

This doesn't work for self-employed people and can be dangerous for low-income people who would be harmed by a penalty. I pay 35.1% into my tax account every time I get paid because anything short of that is a problem for Uncle Sam.

Do the math, dummy.

The math you're talking about doesn't pan out for everyone. Moreover, the neat little brackets they shove us all into are not nearly accurate enough come filing time for someone to be able to finesse their withholdings to within a few bucks in either direction.

If you are getting a refund - you are providing the US Government with an interest free loan, for your earning year.

True.

That' s right - that " refund" costs you money.

Yes, we know, which makes the refund I'm owed all the more important to me.

Better plan --- and financially sound as fuck --- put money aside every month - and collect the interest on it --- then pay in on April 15th......

Nope. That's a bad plan. If you do not pay Uncle Sam every three months the correct percentage of taxes you owe, they will penalize you 4% if you earn over a certain amount. Extremely poor people get out of this payment. Try finding a 4% interest rate on a savings account. When you do, let me know.

Or, snivel about what the " convenience " of your forced " savings" of a refund costs you - when the government doesn't come through on time.... Hint - the government doesn't get penalized for late payment...

Which is a fucking problem that everyone has a goddamn right to snivel about.