WOW, obviously you never lived on the poverty line. Read this one more time: 32.58% of those Americans who _filed_ income tax returns did not _owe_ any federal income tax at all for 2005.
You get a refund if you paid more than you owed. paid owed $260 > 0 refund = $260 On Thu, Sep 18, 2008 at 1:08 PM, Gruss Gott <[EMAIL PROTECTED]> wrote: >> Sam wrote: >> It is not. If you don't owe you get a refund. >> > > Here's how it works: > > Let's say you make an income of $100/wk ad the gov't says it needs 15% > of your money. > > That means each week you get $85 cash money and the gov't gets $15. > > At the end of the year the government's taken 52x$15 = $780. > > But let's say as year's end you tell them that because you had a child > you get the child-tax-credit of $80. > > So now the gov't owes you $80 and you get a refund. > > Or, let's say that the gov't says that since you got a raise during > the year you jumped tax brackets and should've been in the 20% > bracket. Well, 52 x $20 = $1040. > > Now you owe $260 on your taxes. > > And this is why even people who don't file pay taxes. Their employer > may have already withheld the required amount from their income and > paid the gov't. Thus they've already paid taxes; they just haven't > filed for the record or for any adjustment. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;203748912;27390454;j Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:270041 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
