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Old 01-21-2013, 11:57 AM
 
Location: Chambersburg PA
1,739 posts, read 1,763,470 times
Reputation: 1464

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Quote:
Originally Posted by florida.bob View Post
I believe you are incorrect thinking that. My understanding of the tax law is that she could earn zero(ie not work), collect welfare and get refunded $1000 per eligible child. I don't see what is so hard to believe about that.
try plugging that into the Taxbrain calculator and see what it says.
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Old 01-21-2013, 11:59 AM
 
66,695 posts, read 30,448,156 times
Reputation: 8711
Quote:
Originally Posted by orlandochuck View Post
I paid in about $5000 in federal taxes. I have a co worker who has a daughter that is unemployed, has no ambition to work, on welfare, a single mother of 4 children, all have different fathers. She is getting a $4000 refund. How does she get a refund like that? A refund suggests she paid something in.
Not at all. Refundable tax CREDITS allow 30% of all tax eligible persons/households to get more money FROM the federal government than they ever paid in taxes.
Quote:
"In summary, for tax year 2009, approximately 22 percent of all tax units, including filers and non filers, will have zero income tax liability, approximately 30% will receive a refundable credit, and approximately 49% will have a positive income tax liability."
http://finance.senate.gov/newsroom/r...1-ffc00b5c00ef

Only 49% PAY any federal income tax whatsoever. Compare that to the 30% who actually TAKE money from the government.
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Old 01-21-2013, 11:59 AM
 
Location: Fort Worth, TX
1,476 posts, read 1,512,147 times
Reputation: 1588
Quote:
Originally Posted by florida.bob View Post
I believe you are incorrect thinking that. My understanding of the tax law is that she could earn zero(ie not work), collect welfare and get refunded $1000 per eligible child. I don't see what is so hard to believe about that.

Ok I'm incorrect but based on your understanding? No, I know people who have done this and this is what they've told me based on their experiences. How about you try it and tell me. You have to work, or be paid unemployment in order to qualify for that, otherwise they get nothing, that is why so many people allow someone to carry their children in order to get the money. If people could just turn in their taxes, claim they did not work at all or made any income (TANF is not acceptable) then there would be no need for people to find other people to carry their children. So false.
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Old 01-21-2013, 12:01 PM
 
25,630 posts, read 30,493,397 times
Reputation: 23112
Quote:
Originally Posted by cw30000 View Post
You never heard of 1099? Many people buy 1099 so they can get credit (there is no refund because they didn't pay any tax. It is all credits). It it cost them 1500 to buy 1099 and get a credit for much higher, why not?

If you need help understanding this, feel free to go into a big city and talk to any tax accountant.

False 1099 OID's are on the IRS's top ten prosecution hit list this year.
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Old 01-21-2013, 12:03 PM
 
66,695 posts, read 30,448,156 times
Reputation: 8711
Quote:
Originally Posted by Arus View Post
If she is earning nothing (on welfare) she has $0 income. How would she get $4000 in refunds?
REFUNDABLE tax credits. No taxable income required.
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Old 01-21-2013, 12:05 PM
 
66,695 posts, read 30,448,156 times
Reputation: 8711
Quote:
Originally Posted by Quick Enough View Post
'When you rob Peter to pay Paul and David, Paul and David will vote for you every time."
Yep. That's how Dems get elected.
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Old 01-21-2013, 12:05 PM
 
Location: Orlando, FL
12,256 posts, read 16,227,151 times
Reputation: 6610
Quote:
Originally Posted by Fox Terrier View Post
I have a hard time believing this story.
It's true. When I had my son I was expecting to get 4K & 5K refunds like other girls I knew who had kids but when I did my taxes turns out I made too much money.

On the flip side those same girls lived in a relative state of broke-ness throughout the year; buying cars in Jan and having them repo'd by June, never really doing anything or having anything that I would consider of value. Couldn't take the kids to the circus, go on our girlfriend's cruise, missed all the concerts. So yeah they get a big refund & a bunch of free food via SNAP. No thanks, I'll keep my little refund and actually work so I can have the things I want.
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Old 01-21-2013, 12:09 PM
 
Location: Fort Worth, TX
1,476 posts, read 1,512,147 times
Reputation: 1588
Quote:
Originally Posted by InformedConsent View Post
Yep. That's how Dems get elected.

I think that's how anyone gets elected, and that's what presidential campaigns try to appeal to what people want. I thought that's how any political elected official got into their post, by promising special incentitives; that's why we have pork barreling and senators and congress people rallying for specific grants for the people they are "thanking" for their support and vote.

I'm sure if Mitt or the other person who was running for the presidential seat won, they would be dishing out grants, programs, and other incentives to their supporters as well. So please stop it.
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Old 01-21-2013, 12:10 PM
 
Location: Barrington
46,060 posts, read 34,157,927 times
Reputation: 15372
Quote:
Originally Posted by BentBow View Post
My accountant said it was a tax credit, because we didn't have enough income????
If you had no earned income why would you files taxes?

Take a look at your return and let us know which credit gave you the refund.
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Old 01-21-2013, 12:19 PM
 
Location: Maryland
18,624 posts, read 16,461,645 times
Reputation: 6348
Quote:
Originally Posted by orlandochuck View Post
I paid in about $5000 in federal taxes. I have a co worker who has a daughter that is unemployed, has no ambition to work, on welfare, a single mother of 4 children, all have different fathers. She is getting a $4000 refund. How does she get a refund like that? A refund suggests she paid something in.
This is whats wrong with America.
Aw you have just been exposed to the wonderful Earned Income Tax Credit.
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