I pay a lot in income tax each year and recently I have only had roughly 10% refunded at tax refund time. I’m worried I’m paying too much during the year and not getting enough back. I file as single and claim 1 on state and federal exemptions and file single on tax returns. Am I doing anything wrong or is this how it’s supposed to be. (Btw I make less then 30,000 yr gross)
Answer by Ryan M
There is no average %. People who are poor tax planners get more than people who know how to maximize their cash flow. Getting refund means you screwed up and overpaid the government. Not all people screw up as bad as others.
Answer by Fred S
So why do you pay “too much during the year”. Why don’t you pay less during the year, and aim to get zero back? Why give the government an interest free loan? Would you do that for anyone else?
The best plan is to get no refund.
Los Angeles, California (PRWEB) August 06, 2014
In response to the aforementioned article (http://www.accountingtoday.com/news/Tax-Refund-Amounts-Fell-Delayed-Tax-Season-66338-1.html) published on Accounting Today, Platinum Tax Defenders wish to make it clear to their clients that no matter what changes in the law take place, the professionals at the firm will still do their very best to ensure their clients are not affected by the changes.
According to Sherri Gastelum, president of Platinum Tax Defenders, it is not unusual for changes to the tax law to affect taxpayers. However, because most taxpayers are unaware of the changes, or are only informed of them when it is too late, these law changes usually affect them to their detriment.
However, tax attorneys are well-versed in situations such as these and are usually in the know when it comes to changes in the law, especially when it affects their clients taxes. Hence, taxpayers are encouraged to engage the services of a skilled tax attorney for peace of mind.
This is especially true for taxpayers who are facing tax issues, specifically issues regarding back taxes. They are known to face even more problems during tax filing season.
According to the aforementioned article, The tax filing season is a critical period for the IRS since it is during this time that most individuals file their tax returns and contact the IRS if they have questions about specific tax laws or filing procedures.
If the taxpayer who has problems with back taxes decides to undertake tax filing by his or herself, they will probably be faced with numerous speed bumps. With the help of a tax attorney, the taxpayer will find that the process will be a lot smoother and that they need not worry about the usual red tape and paperwork that comes with trying to figure out tax relief. Tax laws and filing procedures will be handled by the tax attorney and taxpayers are one step closer to achieving the tax relief they seek.
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Platinum Tax Defenders is pleased to inform interested clients that they are offering first-timers a free consultation. Whether the client needs help with back taxes or seeking tax resolution services, Platinum Tax Defenders will do all they can to get the job done.
Interested clients are encouraged to contact Platinum Tax Defenders at 1-877-668-1807 or info(at)tax-resolution(dot)me.