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Old 01-16-2009, 06:36 PM
 
Location: Great State of Texas
86,068 posts, read 74,719,235 times
Reputation: 27602

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Harbinger of what might happen with Fed income taxes ?
Might want to check your withholding ..just in case.

California withholds tax refunds to stay afloat - Jan. 16, 2009 (http://money.cnn.com/2009/01/16/news/economy/california.reut/index.htm?section=money_latest - broken link)

snippet:
"California will not pay tax refunds for individuals and business that overpaid 2008 taxes, in order to conserve dwindling cash for priority payments including school spending and debt repayment required by state law, the state's controller office said Friday."

NOTICE..it does not say "delay", it says "will not pay".
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Old 01-16-2009, 06:40 PM
 
3,853 posts, read 11,850,014 times
Reputation: 2521
also welfare and college grants hahaha.

Unfortunately I should have set my dependents to 10 so I wouldn't have to get a refund.
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Old 01-16-2009, 06:43 PM
 
3,722 posts, read 4,713,825 times
Reputation: 4751
I have to pay each year, and I like it that way. No way am I going to give the government an interest free loan and hope they pay me what is owed later.
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Old 01-16-2009, 07:13 PM
 
19 posts, read 109,839 times
Reputation: 11
With all due respect, but wise Kennedy once said, "Ask not what your country can do for you, but what you can do for your country."
This is a critical time for all, and we should help our country whenever we can. When our country gets back on its feet again, it will remember how we overcame it together!

*I'm saying this not because I'm filthy rich. I'm facing possible unemployment with student loans and meager savings. I'm willing to forgo my tax return if it can help our government.
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Old 01-16-2009, 07:21 PM
 
19,083 posts, read 20,652,259 times
Reputation: 8356
riceeater--- with all due respect... do you know anything? How does this help? Are you just saying it "because"... If you really want to help, perhaps you should call their Congress and tell them to get off their lazy arse and pass a budget..
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Old 01-16-2009, 07:21 PM
 
Location: Rockland County New York
2,984 posts, read 5,336,599 times
Reputation: 1295
I wonder if New York is not that far behind from adopting the same ruling.
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Old 01-16-2009, 07:28 PM
 
18,328 posts, read 16,283,406 times
Reputation: 7096
Quote:
Originally Posted by riceeater View Post
With all due respect, but wise Kennedy once said, "Ask not what your country can do for you, but what you can do for your country."
This is a critical time for all, and we should help our country whenever we can. When our country gets back on its feet again, it will remember how we overcame it together!

*I'm saying this not because I'm filthy rich. I'm facing possible unemployment with student loans and meager savings. I'm willing to forgo my tax return if it can help our government.
Hi riceeater,

Unfortunately this will make things worse. If you do receive your refund it will simply continue the depression.
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Old 01-16-2009, 07:30 PM
 
18,328 posts, read 16,283,406 times
Reputation: 7096
Quote:
Originally Posted by HappyTexan View Post
Harbinger of what might happen with Fed income taxes ?
Might want to check your withholding ..just in case.

California withholds tax refunds to stay afloat - Jan. 16, 2009 (http://money.cnn.com/2009/01/16/news/economy/california.reut/index.htm?section=money_latest - broken link)

snippet:
"California will not pay tax refunds for individuals and business that overpaid 2008 taxes, in order to conserve dwindling cash for priority payments including school spending and debt repayment required by state law, the state's controller office said Friday."

NOTICE..it does not say "delay", it says "will not pay".
HappyTexan,

Only if they are crooks. California cannot "borrow" from the Fed infinitely unlike the Treasury.
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Old 01-16-2009, 07:30 PM
 
8,648 posts, read 15,626,730 times
Reputation: 4586
Quote:
Originally Posted by riceeater View Post
With all due respect, but wise Kennedy once said, "Ask not what your country can do for you, but what you can do for your country."
This is a critical time for all, and we should help our country whenever we can. When our country gets back on its feet again, it will remember how we overcame it together!

*I'm saying this not because I'm filthy rich. I'm facing possible unemployment with student loans and meager savings. I'm willing to forgo my tax return if it can help our government.
I was young and ideal at one time too, but then I grew up and found out my government could care nothing about me.

I saw him make that speech.

Hope you get a job....
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Old 01-16-2009, 07:56 PM
 
458 posts, read 1,525,490 times
Reputation: 369
I sure hope they mean just postponing the refund checks, because that's blatantly stealing from people.

As to the quote "Ask not what your country can do for you, but what you can do for your country.", I think it's a wonderful quote. But: People still deserve the right to make their own choices on what to do for their country. If they choose to give their refund money to the government as a gift, that's wonderful of them! If they choose not to, then they should have that right also. The government forcing charity on any entity causes the "charity" to no longer be charity, but rather, stealing.

People need to have their own agency concerning where they do and do not give their money.
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