It’s that time of year… tax time…
In case you don’t know it, the GOP Tax Scam is in full effect..
Now, you and me…we knew from the beginning, that it was, in fact, a SCAM.
But, those who showed their lack of character by their votes for Dolt45..
Well, some of them have been in for a rude awakening as they fill out their 1040s:
Tax code changes leave Americans asking, ‘What happened to my refund?’
“If I were to estimate, two-thirds will pay more than they thought and one-third will get more than they thought,” said one tax preparer.
Feb. 8, 2019, 10:41 AM CST
By Martha C. White
With filing season officially under way, a growing number of taxpayers are realizing that the Tax Cuts and Jobs Act might be a double-edged sword.
The White House said in October 2017 that the average family “would get a $4,000 raise” when it was pushing for passage of the law. Now that the new filing season has begun, some taxpayers are finding out that the tax man giveth — but also taketh away, especially as it pertains to their annual refund.
Come on…who ACTUALLY believed that the GOP was going to make sure that the average American got back $4,000. What kind of rube are you to believe that foolishness?
But even as Gleckman pointed out that some people’s overall tax burdens might be smaller this year, he acknowledged that many people come to expect and even rely on that refund.
“The people who file early are the people who generally count on these refunds. They may have an expectation of higher refunds,” he said. These taxpayers, especially those who hold down multiple jobs, could be in for a rude awakening.
This was what happened to Jason Marques, a postal worker, pizza delivery driver and student in Massachusetts who said that, since his income didn’t change, he was expecting a similar refund to the roughly $6,000 he got last year — money he said would go towards his student loans or paying off credit card debt.
Marques said he was hurt by the cap on student loan interest deduction and the elimination of non-reimbursed business expenses, which he used to deduct the out-of-pocket costs he incurred as a delivery driver. “My jaw hit the floor,” he said, when he learned his 2018 refund would be under $500.
Multiply that by MILLIONS, and folks MIGHT be getting the drift.
Taxpayers who live in states with high costs of living or who used to take a lot of real estate-, tax- or work-related deductions also should be prepared to have to break out their checkbooks come April, Charron said.
Since Charron is based in New York City, his clients tend to come from areas with high home prices and property taxes. “If I were to estimate, two-thirds will pay more than they thought and one-third will get more than they thought,” he said. “I had a call yesterday with a client and I had to tell him his withholdings were short by $16,000.”
These are blue state folks. We need to continue in 2020 what began in 2018. Shouldn’t be a Republican left in 2020 in a blue state, because this is THEIR LOVE CHILD- from beginning to end.
Found this story at another blog:
February 8, 2019 at 10:31 pm
@Kay: I do tax prep. I am really curious about how this tax season will go. First horror story (not a client; I would never discuss a client on a blog) a co-worker of someone I know has a wife and eight kids. He didn’t think to adjust his withholding because he’s just a normal guy who goes to work and doesn’t think about stuff like that. He was expecting a refund. But of course he had lost ten personal exemptions (him, wife, eight dependent kids) which is worth more than $40,000 off his taxable income that he isn’t getting any more. So he had to borrow to pay his taxes. Plus he has to readjust his withholding so his take home will be less going forward. Net effect of the tax bill for him: no refund, new debt, less take-home pay.
Next election a lot of people may be bitter.
Middle Class Dads Freak Out About Trump Tax Hike
February 6, 2019
What’s the reason for this financial switcheroo? It stems from President Trump’s tax reform, which was passed in 2017 and was touted by Trump and the GOP as a win for the middle class. However, with the new tax system now in place, Americans are discovering that most of the tax relief from the bill is actually being experienced by corporations.
Meanwhile, many people are seeing an increase in taxes due to the bill eliminating many of the deductions that were used by middle-class families in order to lower the amount of taxes they were required to pay. Most notably, the tax reform placed a cap on deductions for taxes on both state and local levels.
Unsurprisingly, people have not been happy to discover that what they expected to be a decrease in taxes paid is actually an increase. Those who had been supporters of Trump are especially infuriated, as many were under the assumption that he would provide financial relief for middle-class families, something that he consistently promised during his Presidential campaign. Many have even taken their anger online, with #GOPTaxSCAMStories trending on Twitter as more and more members of the middle-class express their feelings of betrayal towards Trump and Republicans.
JUST A SAMPLING….
.I am a Republican voter. I just did our taxes.
The @GOP tax bill cost my family THOUSANDS of dollars this year on our return due to changes, thereby hitting us with the LARGEST tax increase of our lives.
We are middle-class homeowners, and you raised our taxes.
— Dennis Jordan (@DennisMJordan) February 5, 2019
Several users explained that they had voted for Trump and now were left wondering if they had made the wrong decision.
@realDonaldTrump I trusted and voted for you, now, screwed by you. I fall JUST above a tax bracket, I don’t get the 5000 return I’ve gotten the last 3 years. Money my family depends on to start us over. I served my country honorably. I will not make the same mistake twice.
— Matt Davis (@MattDav72811123) January 30, 2019
Others presented just how much their taxes had shifted in just a year, highlighting how much of a shock the effect of this bill has been.
2017 taxes = $5,408 refund …
Unchanged salary, unchanged withholding…
2018 taxes = $440 owed to the IRS.
I’m middle class, single with a $83,085 income.#GOPTaxSCAMStorieshttps://t.co/afbjBv0eZa
— Michael K Richards (@_hesh_) February 4, 2019
is it mean of me to say….
WOMP WOMP WOMP…
Here are stories at Tax Refund Twitter
Also at Tax Scam Twitter
Well, those who voted for the GOP…you didn’t actually think that they were looking out for YOU, did you?
We tried to tell you, but you always had some reason why you voted GOP.