And the Big Bad Tax Refund said,
“What a good little taxpayer you are! I could just eat you up, but I won’t.”
An American rite of passage into spring is the anticipation and arrival of the tax refund. Money from the IRS! You didn’t owe them a penny, didn’t have to pay them a dime!
And the Big Bad Tax Refund just grins and repeats, “What a good little taxpayer you are! My sweet.”
In 2014, nearly 84 million tax filers were “good little taxpayers”
Last year, the IRS issued refunds totaling almost $255 billion. That means, on average, each one of those good little taxpayers loaned Uncle Sam $3,036. And it was INTEREST FREE.
And the good little taxpayers say,
- What’s the big deal? I got money back.
- It’s my savings account. If I had it, I would have spent it.
- Wait a minute, I qualified for…
Yes, tax credits. That’s another issue.
If you qualified for tax credits, you’re very likely seeing refunds relative to those specific credits to see what The IRS Says.
- Earned Income Credit
- Child and Dependent Care Credit
- Adoption Credit and Adoption Assistance Programs
- Excess Social Security and RRTA Tax Withheld
- Retirement Savings Contributions Credit
- Repayment of the First-time Homebuyer Credit
- The Premium Tax Credit
So what’s the bottom line?
When we establish a personal relationship with our clients, we take care of a lot more than simply filling in spaces on a tax form. we know your LIFE is your business and we take it as seriously as you. Schedule your mid-year tax review now. It’s personal.
Call 479-478-6831 or send us an email