In a month I want everyone to remember which President's

[Value Buy]

term that this act fell on.

Remember it was on President Obama's watch, so do not blame President Trump from with holding unearned income tax credits on their tax filings.

www.msn.com/en-us/money/taxes/irs-to-delay-tax-refunds-for-millions-of-low-income-families/ar-BBy7PHn?li=BBnb7Kz

It is only 27 billion dollars being held back a month, so I think the IRS release of the statement why they are doing it is legitimate, but some posters here will claim it's Trump's fault.
Some will claim Trump is starving the poor and refusing to give them their hard earned money!


www.msn.com/en-us/money/taxes/irs-to-delay-tax-refunds-for-millions-of-low-income-families/ar-BBy7PHn?li=BBnb7Kz

[bean29]

I don't think it matters who is President. My understanding is there is a lot of fraud going on. Allowing tax returns to be processed before all the 1099's and W-2's have been reported to the government makes no sense. This is here to stay.

[Value Buy]

Jan 12, 2017 7:44:28 GMT -5 bean29 said:

I don't think it matters who is President. My understanding is there is a lot of fraud going on. Allowing tax returns to be processed before all the 1099's and W-2's have been reported to the government makes no sense. This is here to stay.

Yes, it would be nice if a government agency actually did their due diligence and operated as intended.

[Shooby]

It would be nice if we abolished the IRS.  

[billisonboard]

Good point on who's watch but let's be clear on who passed the law:

... Congress passed, with bipartisan support, and the President signed, the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act). Protecting Americans from Tax Hikes Act of 2015— Year-End Legislation f/k/a Extenders

[Value Buy]

Jan 12, 2017 9:46:47 GMT -5 billisonboard said:

Good point on who's watch but let's be clear on who passed the law:

... Congress passed, with bipartisan support, and the President signed, the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act). Protecting Americans from Tax Hikes Act of 2015— Year-End Legislation f/k/a Extenders

I just want no one to post how the Donald is with holding tax credits and staving the children.
If the program works as intended and catches cheaters, I am fine giving all the credit to Congress and President Obama.

[Tennesseer]

Jan 12, 2017 9:51:03 GMT -5 Value Buy said:

Jan 12, 2017 9:46:47 GMT -5 billisonboard said:

Good point on who's watch but let's be clear on who passed the law:

... Congress passed, with bipartisan support, and the President signed, the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act). Protecting Americans from Tax Hikes Act of 2015— Year-End Legislation f/k/a Extenders

I just want no one to post how the Donald is with holding tax credits and staving the children.

If the program works as intended and catches cheaters, I am fine giving all the credit to Congress and President Obama.

So you are okay with the Republican controlled Congress and Obama starving the children.

[bean29]

Jan 12, 2017 10:25:30 GMT -5 Tennesseer said:

Jan 12, 2017 9:51:03 GMT -5 Value Buy said:

I just want no one to post how the Donald is with holding tax credits and staving the children.

If the program works as intended and catches cheaters, I am fine giving all the credit to Congress and President Obama.

So you are okay with the Republican controlled Congress and Obama starving the children.

Your focus is on the wrong group of people. Your focus should be on stopping frad/fraudsters from collecting our tax $$.

Think about it. If a fraudster files a fraudulent tax return in someone else's name and collects a return on their behalf - when the real John/Jane Doe file their tax return you think the government is going to process the second return without any hold up? So, I don't think the outcome is really causing some innocent person's children to starve.

It will take longer to process the returns, but that is just the price we are going to have to pay. It will only be painful in year 1, then the schedule will be reset back a few months and things will be back on track.

Make a donation to a food bank if you are so concerned about starving children. I sent our $50 donation off in Dec, so my conscience is clear.

[Tennesseer]

Jan 12, 2017 11:15:33 GMT -5 bean29 said:

Jan 12, 2017 10:25:30 GMT -5 Tennesseer said:

So you are okay with the Republican controlled Congress and Obama starving the children.

Your focus is on the wrong group of people. Your focus should be on stopping frad/fraudsters from collecting our tax $$.

Think about it. If a fraudster files a fraudulent tax return in someone else's name and collects a return on their behalf - when the real John/Jane Doe file their tax return you think the government is going to process the second return without any hold up? So, I don't think the outcome is really causing some innocent person's children to starve.

It will take longer to process the returns, but that is just the price we are going to have to pay. It will only be painful in year 1, then the schedule will be reset back a few months and things will be back on track.

Make a donation to a food bank if you are so concerned about starving children. I sent our $50 donation off in Dec, so my conscience is clear.

I am all for stopping the fraud no matter who is president. Always have been-always will be. I just thought pointing out the hyperbole of starving the children should be noted.

[Tiny]

Shouldn't the "hardship" of getting a refund UNEXPECTEDLY later than anticipated only effect people this year?   Going forward the "hardship" of waiting for a refund should be some what 'normalized' they will KNOW now that the pay out will come later and they will just have to plan accordingly.

[Deleted]

Jan 12, 2017 11:30:39 GMT -5 Tennesseer said:

Jan 12, 2017 11:15:33 GMT -5 bean29 said:

Your focus is on the wrong group of people. Your focus should be on stopping frad/fraudsters from collecting our tax $$.

Think about it. If a fraudster files a fraudulent tax return in someone else's name and collects a return on their behalf - when the real John/Jane Doe file their tax return you think the government is going to process the second return without any hold up? So, I don't think the outcome is really causing some innocent person's children to starve.

It will take longer to process the returns, but that is just the price we are going to have to pay. It will only be painful in year 1, then the schedule will be reset back a few months and things will be back on track.

Make a donation to a food bank if you are so concerned about starving children. I sent our $50 donation off in Dec, so my conscience is clear.

I am all for stopping the fraud no matter who is president. Always have been-always will be. I just thought pointing out the hyperbole of starving the children should be noted.

Hyperbole?   Here?

[Value Buy]

Jan 12, 2017 10:25:30 GMT -5 Tennesseer said:

Jan 12, 2017 9:51:03 GMT -5 Value Buy said:

I just want no one to post how the Donald is with holding tax credits and staving the children.

If the program works as intended and catches cheaters, I am fine giving all the credit to Congress and President Obama.

So you are okay with the Republican controlled Congress and Obama starving the children.

Sheesh!
I thought I was being considerate and applauding the current President.
If the plan works out well.

How about we all say Value Buy is okay with starving the kids and leave the politicians out of this one?

[Value Buy]

Jan 12, 2017 12:24:11 GMT -5 Tiny said:

Shouldn't the "hardship" of getting a refund UNEXPECTEDLY later than anticipated only effect people this year?   Going forward the "hardship" of waiting for a refund should be some what 'normalized' they will KNOW now that the pay out will come later and they will just have to plan accordingly.

We should remember this "refund" is not a refund.

It is a credit for not making enough money, hereafter referred to here on these boards as "snowflake money".

[justme]

This was originally announced months ago, if people were paying attention. I guess it was written again for those that don't pay attention.

[Value Buy]

Jan 12, 2017 19:48:43 GMT -5 justme said:

This was originally announced months ago, if people were paying attention. I guess it was written again for those that don't pay attention.

I simply do not want to see several threads started in late January, early February, when all the poster's kids living in their basement do not get their credit and start blaming Trump for it

[NastyWoman]

Jan 12, 2017 8:14:30 GMT -5 Shooby said:

It would be nice if we abolished the IRS.  

and roads, and bridges, and the military, and... Oh wait, maybe that is not what you meant → we should send the bill for all of this to Mexico (after they pay for THAT wall of course)

[Shooby]

Oh noes!  The roads are gonna disappear!  Must be climate change!  

[ken a.k.a OMK]

So what is everyone drinking tonight?     

[OldCoyote]

Jan 12, 2017 21:08:50 GMT -5 ken a.k.a OMK said:

So what is everyone drinking tonight?     

Hyperbole, 100 Proof!!  Careful when drinking it, can cause disillusion !

[Deleted]

Jan 12, 2017 19:53:29 GMT -5 Value Buy said:

Jan 12, 2017 19:48:43 GMT -5 justme said:

This was originally announced months ago, if people were paying attention. I guess it was written again for those that don't pay attention.

I simply do not want to see several threads started in late January, early February, when all the poster's kids living in their basement do not get their credit and start blaming Trump for it

lmao 

[Value Buy]

This article ups the ante to 50 billion dollars in postponed refunds, and eveyone will be borrowing on their refund amount to cover their bills waiting to be paid.

www.msn.com/en-us/money/taxes/late-tax-refunds-spur-loans-to-cover-shortfall/ar-AAlPS0F


Waiting for snowflake money to pay bills........

[ken a.k.a OMK]

I've never been a fan of using the IRS to save money and get a big refund. You get no interest on it. I try to stay close to breaking even but not owing. I'd rather have my money in every pay check.

[djAdvocate]

Jan 12, 2017 8:14:30 GMT -5 Shooby said:

It would be nice if we abolished the IRS.  

why?

[ken a.k.a OMK]

Without the IRS how would we fund our government? 

[steff]

I believe I'm the only poster here who had a kid living in my basement.  Any tax credits for him were done when he turned 17. 

Rather than listen to cheap shots taken here, I'm much more concerned about my kid losing his health insurance very soon.  Keeping him on our insurance was pretty much the last thing we were doing to help support him.  Now he's out on his own &  still has what will be considered 2 preexisting conditions.   Even if he could afford it, he won't be able to get coverage once the elitist rich GoP start killing us all off.