2007-12-13 13:43:38 · 3 answers · asked by Linda H 1 in Business & Finance ➔ Taxes ➔ United States
It means you had too much tax withheld from your paycheck, and it is being given back to you. It means you loaned the government your money interest free for a year. Wouldn't it be better if you had not paid too much and saved that money and earned interest on it? You should read about the fairtax plan. Do an online search and read all about it.
2007-12-13 13:50:43 · answer #1 · answered by Bette 5 · 0⤊ 3⤋
It means you have more with held from your pay check than you had to. As a wage earner you pay federal income tax by having it withheld from your pay during the year.
visit IRS website: www.irs.gov for more information, review Publication 19.
2007-12-13 13:52:53 · answer #2 · answered by Ms. Angel.. 7 · 1⤊ 0⤋
It means you paid too much during the year and they are returning it to you.
2007-12-13 13:48:06 · answer #3 · answered by TaxGurl 6 · 3⤊ 0⤋