Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: Millions May Have to Repay Part of Obama Tax Credit

  1. #1
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Millions May Have to Repay Part of Obama Tax Credit

    This is that wonderful tax break we heard so much about that was apart of the stealfromus package. Whatta hoot!

    More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit.

    Taxpayers are at risk if they have more than one job, are married and both spouses work, or receive Social Security benefits while also earning taxable wages, according to a report Monday by the Treasury Department's inspector general for tax administration.


    Millions Will Have to Repay Part of Tax Credit - Politics and Government * US * News * Story - CNBC.com
    I'm glad, now, that I didn't qualify. Hell, I'm better off without it!...
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  2. #2
    Hard As A Rock
    Strucky's Avatar
    Join Date
    Aug 2009
    Location
    Minnesota
    Last Seen
    10-19-17 @ 08:58 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    2,074

    Re: Millions May Have to Repay Part of Obama Tax Credit

    Damn it!!!!!!!!!There goes my freaking refund.


    I am married,have two jobs and my wife works.
    "The problem in defense is how far you can go without destroying from within what you are trying to defend from without."

    ~Dwight D. Eisenhower

  3. #3
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 11:46 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,219

    Re: Millions May Have to Repay Part of Obama Tax Credit

    Quote Originally Posted by Strucky View Post
    Damn it!!!!!!!!!There goes my freaking refund.


    I am married,have two jobs and my wife works.
    That's PBO taking care of the working class.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  4. #4
    Hard As A Rock
    Strucky's Avatar
    Join Date
    Aug 2009
    Location
    Minnesota
    Last Seen
    10-19-17 @ 08:58 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    2,074

    Re: Millions May Have to Repay Part of Obama Tax Credit

    Quote Originally Posted by apdst View Post
    That's PBO taking care of the working class.
    Seems more like anal rape to me.
    "The problem in defense is how far you can go without destroying from within what you are trying to defend from without."

    ~Dwight D. Eisenhower

  5. #5
    Sage
    Gibberish's Avatar
    Join Date
    Oct 2005
    Location
    San Diego, CA
    Last Seen
    12-23-12 @ 09:29 PM
    Gender
    Lean
    Moderate
    Posts
    6,339

    Re: Millions May Have to Repay Part of Obama Tax Credit

    I actually anticipated this. This whole injecting money in the form of any type of "tax credit" or stimulus was a ludicrous idea.

    Bush thought we could buy our way out by investing in failing companies and Obama thought we could inject money directly into the pocket of the consumer. Obama and Bush have both failed in terms of the economy.

    On a side note I'm also pissed about the 2008 $7,500 interest free loan upgrading to the 2009 $8,00 tax credit and the government just screwing those that bought in 2008 by not eliminating the pay back requirement.
    "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
    - Warren Buffett

  6. #6
    Sage
    Gibberish's Avatar
    Join Date
    Oct 2005
    Location
    San Diego, CA
    Last Seen
    12-23-12 @ 09:29 PM
    Gender
    Lean
    Moderate
    Posts
    6,339

    Re: Millions May Have to Repay Part of Obama Tax Credit

    Quote Originally Posted by Strucky View Post
    Seems more like anal rape to me.
    That's the IRS in general.
    "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
    - Warren Buffett

  7. #7
    Banned
    Join Date
    Oct 2009
    Location
    LIBTARDISTAN
    Last Seen
    05-01-10 @ 11:38 AM
    Gender
    Lean
    Undisclosed
    Posts
    3,629

    Re: Millions May Have to Repay Part of Obama Tax Credit

    A slick trick to get people to spend money they didn't have....
    Think of it as a payday loan, except now you don't have a job....

  8. #8
    Educator
    Join Date
    Aug 2007
    Last Seen
    11-15-15 @ 11:02 PM
    Gender
    Lean
    Liberal
    Posts
    802

    Re: Millions May Have to Repay Part of Obama Tax Credit

    This was known before the new tax tables were even implemented. Some of the income tax reference sites had released information about the two jobs/married 2-income/retired/etc... problems with the income tax tables, and encouraged tax preparers to adjust withholding for those affected.

    The problem wasn't his tax credit, but rather the withholding adjustment. (For those that don't know, the making work pay tax credit is a 2009 tax year tax credit that will show up in next year's tax return. In order to get the money out sooner the tax withholding tables were adjusted, so that over the year the tax withheld would be reduced. It just wasn't done in a way that would handle two jobs, and other scenarios.)

  9. #9
    Banned
    Join Date
    Oct 2009
    Location
    LIBTARDISTAN
    Last Seen
    05-01-10 @ 11:38 AM
    Gender
    Lean
    Undisclosed
    Posts
    3,629

    Re: Millions May Have to Repay Part of Obama Tax Credit

    Quote Originally Posted by vvx View Post
    This was known before the new tax tables were even implemented. Some of the income tax reference sites had released information about the two jobs/married 2-income/retired/etc... problems with the income tax tables, and encouraged tax preparers to adjust withholding for those affected.

    The problem wasn't his tax credit, but rather the withholding adjustment. (For those that don't know, the making work pay tax credit is a 2009 tax year tax credit that will show up in next year's tax return. In order to get the money out sooner the tax withholding tables were adjusted, so that over the year the tax withheld would be reduced. It just wasn't done in a way that would handle two jobs, and other scenarios.)
    Yuh huh, we'll see....

  10. #10
    Banned
    Join Date
    Sep 2005
    Location
    Los Angeles
    Last Seen
    09-22-10 @ 04:36 AM
    Gender
    Lean
    Independent
    Posts
    11,430

    Re: Millions May Have to Repay Part of Obama Tax Credit

    Excellent.

    Tax payers getting screwed by the Messiah!

    One Termer becomes all the more likely with each bit of news like this.

    Hmmmm....17% real unemployment, people who do have jobs are getting caught in tax scams and might be taxed for their health care, ... all good stuff if we're going to get rid of this failure president ASAP.

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •