2006-09-20 04:56:05 · 8 answers · asked by Tony F 1 in Business & Finance ➔ Taxes ➔ United States
Although most of you are correct about getting your money back, you can't forget the money some people receive as credits (earned income credit and additional child tax credit) which are not exactly over payments.
2006-09-20 08:35:04 · answer #1 · answered by NANA 3 · 1⤊ 0⤋
Well, you are getting a refund of the taxes that you overpaid to the government.
Or, as I like to say you gave Uncle Sam an interest-free loan of your own money.
2006-09-20 14:24:45 · answer #2 · answered by nova_queen_28 7 · 0⤊ 0⤋
Yes, it is a refund. Monies repaid to you as a result of overpayment.
If you get too large of a refund, you may want to reduce your withholding so that you don't give the government your money for a year - interest free.
2006-09-20 12:02:19 · answer #3 · answered by KrautRocket 4 · 0⤊ 0⤋
Of course you are - a refund of your own money. Well I guess that really depends on your income - dependants - and what you can claim. If you make too much - sometimes you have to pay - so no refund for you.
2006-09-20 12:05:37 · answer #4 · answered by LaDonna J 3 · 0⤊ 0⤋
Yes a refund. You know when you return a thing you bought and you get your money back, that is what you get a REFUND. Not free money!
2006-09-20 12:04:05 · answer #5 · answered by sooners83 4 · 0⤊ 0⤋
Of course. Way too many people view tax refunds as so sort of lottery winning. Its your money that you've overpaid to the IRS! The IRS has held your money interest-free then gave you back what you didn't owe.
2006-09-20 18:19:36 · answer #6 · answered by othellonuevo 2 · 1⤊ 0⤋
No basically your just getting your own money back that the Gov't borrowed to collect interest on to pay the National Debt.
2006-09-20 11:58:40 · answer #7 · answered by ♥Shortie♥ 5 · 0⤊ 0⤋
yes
2006-09-20 15:04:31 · answer #8 · answered by lalondejr_donald 2 · 0⤊ 0⤋