Re: Covid Stimulus

[Del.]

My daughter who had a baby last year and worked maybe 3 or 4 months at 12 dollars an hour, will be getting a refund of over 5K. Some of that is stimulus money she didnt get for her child, but the rest? She probably only paid in at the most a couple hundred dollars. How does she get so much money back?

It's called Earned Income Credit that gives lower income households to receive a tax credit above and beyond what they paid in taxes.

[CNCAppsJames]

When I had my own business, my first year, I had so may write-offs that I was eligible to get back more than I paid in. More by several thousand dollars. I opted to not exercise all of my 100% legal deductions because I didn't feel right about getting back more than I put in. I ended up getting audited 2 years later. When I called and spoke with the IRS agent to get some clarification, I warned them that I had legitimate deductions I did not claim the 1st time around and if they proceeded with the audit, I was going to claim them. In her best legalese, she said bring it. So I did. The bastards coughed up another few grand for my troubles.

Moral of the story, our tax code is so screwed up and convoluted, it literally needs to be killed with fire... every last page and started over from scratch.

One should NEVER be able to get back more than they put in. EVER.

[Leehound]

My daughter who had a baby last year and worked maybe 3 or 4 months at 12 dollars an hour, will be getting a refund of over 5K. Some of that is stimulus money she didnt get for her child, but the rest? She probably only paid in at the most a couple hundred dollars. How does she get so much money back?

It's called Earned Income Credit that gives lower income households to receive a tax credit above and beyond what they paid in taxes.

She certainly can use it. And all you 1 percenters are paying for it!

[Incogneeto]

My daughter who had a baby last year and worked maybe 3 or 4 months at 12 dollars an hour, will be getting a refund of over 5K. Some of that is stimulus money she didnt get for her child, but the rest? She probably only paid in at the most a couple hundred dollars. How does she get so much money back?

It's called Earned Income Credit that gives lower income households to receive a tax credit above and beyond what they paid in taxes.

She certainly can use it. And all you 1 percenters are paying for it!

"REPORTED"!!!

[Del.]

Joe sending us Unity checks. I think we are all coming together now.

[neurosis]