Amazon Turbo Tax "refund deal" works great!

frahse · 05-13-2015, 06:03 PM

My wife and I have been using our 10% bonus from Amazon regularly now.

Essentially through Turbo Tax and Amazon we have gotten a 10% increase of our tax refund.

See:
https://ttlc.intuit.com/questions/18...nd-bonus-offer

If you didn't avail yourself of this offer last year, I suggest you do it next time.

dordale · 05-13-2015, 11:33 PM

:rWouldn't work for me--I owed taxes--wouldn't want to have to pay 10% extra!

Dr. Drib · 05-14-2015, 06:19 AM

Taxes?

HarryT · 05-14-2015, 06:23 AM

Why do get a tax refund? Why not just pay the correct amount of tax in the first place?

tubemonkey · 05-14-2015, 06:36 AM

Quote:

Originally Posted by HarryT

Why do get a tax refund? Why not just pay the correct amount of tax in the first place?

Tax withholding on wages is required by federal law, but it's only an estimate. You won't know your final tax bill until the end of the year. That's when you know how much you earned (salary, investments, interest, etc) and how much you can deduct (losses, exemptions, children, etc).

If you over estimate how much to be withheld, then you'll get a refund. If you under estimate, you'll owe taxes. Either way, it's impossible to have the exact amount withheld.

fjtorres · 05-14-2015, 08:25 AM

The federal withholding tables are designed for overpayment and refunds to provide the government with interest-free loans at taxpayer expense.

Of course, getting "too big" of a refund triggers audits and too big a payment due triggers fines. It keeps accountants and tax experts profitably employed.

HarryT · 05-14-2015, 08:54 AM

Quote:

Originally Posted by fjtorres

The federal withholding tables are designed for overpayment and refunds to provide the government with interest-free loans at taxpayer expense.

Of course, getting "too big" of a refund triggers audits and too big a payment due triggers fines. It keeps accountants and tax experts profitably employed.

From a UK perspective it seems a strange system. Unless you're self-employed or a high earner, most people here don't have to worry about tax. Your employer deducts the correct amount from your monthly salary and everything happens automatically. All our tax allowances are either a fixed amount or a fixed percentage of your salary, so there's no uncertainty about how much you need to pay.

tubemonkey · 05-14-2015, 08:59 AM

Quote:

Originally Posted by HarryT

From a UK perspective it seems a strange system. Unless you're self-employed or a high earner, most people here don't have to worry about tax. Your employer deducts the correct amount from your monthly salary and everything happens automatically. All our tax allowances are either a fixed amount or a fixed percentage of your salary, so there's no uncertainty about how much you need to pay.

We like to keep it complicated so the rich can exploit the system without us peons catching on

fjtorres · 05-14-2015, 09:02 AM

Quote:

Originally Posted by HarryT

From a UK perspective it seems a strange system. Unless you're self-employed or a high earner, most people here don't have to worry about tax. Your employer deducts the correct amount from your monthly salary and everything happens automatically. All our tax allowances are either a fixed amount or a fixed percentage of your salary, so there's no uncertainty about how much you need to pay.

Ah, but the american tax code is a tangle of social engineering exceptions designed to deliver "personalized" tax rates. No two people pay the same amount or rates.

There are regular calls for flat tax rates but they never go anywhere because with a flat tax and no exceptions the government couldn't "encourage" politically correct behavior like buying chinese solar panels or electric cars or not-farm extensive tracts of land...

Vote-buying needs its mechanisms and the tax code is the preferred way to dish out pork.

fkasten · 05-14-2015, 10:17 AM

+1 😂😂😂

Apache · 05-14-2015, 11:37 AM

Not to mention putting accountants and most employees of the IRS out of work.
Apache

Shane R · 05-14-2015, 11:50 AM

I've always wondered why the US govt couldn't just send me a bill. They have all the data anyway.

If I agree, I sign and pay/indicate where to send the refund. If I disagree, then I prepare my own taxes and send them in.

fjtorres · 05-14-2015, 01:03 PM

Quote:

Originally Posted by Shane R

I've always wondered why the US govt couldn't just send me a bill. They have all the data anyway.

If I agree, I sign and pay/indicate where to send the refund. If I disagree, then I prepare my own taxes and send them in.

They don't have all the data. Nobody does. Especially not the taxpayer.
The system is so convoluted and it offers so many different carrots, often at cross-purposes, nobody can calculate an accurate tax. Certainly not them.

At most they could send you an inflated bill for half your income to see if you would rather overpay than try to whittle it down.

frahse · 05-14-2015, 01:05 PM

The Government doesn't want me to "owe" them too much come April 15, so I have to "estimate taxes" and pay ahead.
They will penalize me if I pay too little ahead and usually I have paid too much just to be on the safe side.

(I don't want to be the next federal prison bound Lauryn Hill or Wesley Snipes or even the proverbial tax delinquent Willie Nelson doing special "stay out of jail" concerts!)

frahse · 05-14-2015, 01:09 PM

SEE NEXT FOR CORRECTION-

05-13-2015, 06:03 PM	#1
frahse occasional author Posts: 2,315 Karma: 2064403292 Join Date: Sep 2011 Location: Wandering God's glorious hills, valleys and plains. Device: A Franklin BI (before Internet) was the first. I still have it.	Amazon Turbo Tax "refund deal" works great! My wife and I have been using our 10% bonus from Amazon regularly now. Essentially through Turbo Tax and Amazon we have gotten a 10% increase of our tax refund. See: https://ttlc.intuit.com/questions/18...nd-bonus-offer If you didn't avail yourself of this offer last year, I suggest you do it next time.

05-14-2015, 08:25 AM	#6
fjtorres Grand Sorcerer Posts: 11,732 Karma: 128354696 Join Date: May 2009 Location: 26 kly from Sgr A* Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000	The federal withholding tables are designed for overpayment and refunds to provide the government with interest-free loans at taxpayer expense. Of course, getting "too big" of a refund triggers audits and too big a payment due triggers fines. It keeps accountants and tax experts profitably employed. Last edited by fjtorres; 05-14-2015 at 08:28 AM.

05-14-2015, 01:09 PM	#15
frahse occasional author Posts: 2,315 Karma: 2064403292 Join Date: Sep 2011 Location: Wandering God's glorious hills, valleys and plains. Device: A Franklin BI (before Internet) was the first. I still have it.	SEE NEXT FOR CORRECTION- Last edited by frahse; 05-14-2015 at 11:12 PM.

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05-13-2015, 11:33 PM	#2
dordale Wizard Posts: 1,731 Karma: 3472866 Join Date: Apr 2008 Device: Sony PRS-650 & 350; Kindle Voyage; Kobo Aura HD, Aura One, and Forma	:rWouldn't work for me--I owed taxes--wouldn't want to have to pay 10% extra!

05-14-2015, 06:19 AM	#3
Dr. Drib Grand Sorcerer Posts: 45,355 Karma: 59451559 Join Date: Jan 2007 Location: Peru Device: KINDLE: Oasis 3, Scribe (1st), Matcha; KOBO: Libra 2, Libra Colour	Taxes?

05-14-2015, 06:23 AM	#4
HarryT eBook Enthusiast Posts: 85,544 Karma: 93383099 Join Date: Nov 2006 Location: UK Device: Kindle Oasis 2, iPad Pro 10.5", iPhone 6	Why do get a tax refund? Why not just pay the correct amount of tax in the first place?

05-14-2015, 10:17 AM	#10
fkasten Junior Member Posts: 8 Karma: 400020 Join Date: Nov 2007 Device: Samsung Galaxy Tab 4 Nook	+1 😂😂😂

05-14-2015, 11:37 AM	#11
Apache Readaholic Posts: 5,262 Karma: 90000484 Join Date: Sep 2011 Location: South Georgia Device: Surface Pro 6 / Galaxy Tab A 8"	Not to mention putting accountants and most employees of the IRS out of work. Apache

05-14-2015, 11:50 AM	#12
Shane R Fanatic Posts: 518 Karma: 4274548 Join Date: Nov 2013 Device: None	I've always wondered why the US govt couldn't just send me a bill. They have all the data anyway. If I agree, I sign and pay/indicate where to send the refund. If I disagree, then I prepare my own taxes and send them in.

05-14-2015, 01:05 PM	#14
frahse occasional author Posts: 2,315 Karma: 2064403292 Join Date: Sep 2011 Location: Wandering God's glorious hills, valleys and plains. Device: A Franklin BI (before Internet) was the first. I still have it.	The Government doesn't want me to "owe" them too much come April 15, so I have to "estimate taxes" and pay ahead. They will penalize me if I pay too little ahead and usually I have paid too much just to be on the safe side. (I don't want to be the next federal prison bound Lauryn Hill or Wesley Snipes or even the proverbial tax delinquent Willie Nelson doing special "stay out of jail" concerts!)

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