Tax time....

[LSP552]

Oh how I hate thee!

[SD]

Had to pay this year! Painful.

[Hambo]

I'd rather owe the G than the other way around.

[octagon]

We got lucky this year. We owed on some and refund on others to be a small refund. This was the last year in over 10 years where we had to file in 2 states and was mixed between retired and working incomes. Next year should be close to perfect with no refund or owing.

[StraitR]

I always shoot for owing a bit, almost always less than a grand, rather than let Uncle Sam reap the benefits of holding on to my money.

[Matt O]

Indeed, other than getting lucky and netting to zero, it's always best to owe big G rather than the other way around. This is assuming of course you don't owe so much you trigger the "underpayment of estimated tax" penalty.

[farscott]

We get to pay the balance of our 2016 taxes (state and federal) and make the first quarter's estimated tax payment. That is not pleasant.

[blues]

I pretty much nailed it this year. I ended up owing under $200. NC actually owed me a few bucks. Near perfection.

[Duelist]

Really screwed it up this year. Wife worked full time for a full year for the first time ever, kids aged out of child tax credits, and almost no school tuition credits, but made no changes to my W4. State gives us back some money, .gov gets a bunch.

Made some W4 changes now.

[BobLoblaw]

After years of nearly breaking even, they absolutely robbed me this year. Really needed a scotch afterwards but was afraid it wouldn't stay down.

[RevolverRob]

We had to pay in both to the state and the fed. It always hurts to write checks to them. But such is the price we pay for...what is it we're paying for?

[Peally]

Exorbitant paychecks?

[TElmer2]

My wife and I owe a small amount this year. It still sucks to pay when you see how much you still paid in taxes out of payroll.

Screw healthcare...tax reform is grossly past due. It truly disgusted us by how much we paid in taxes this year. Please spare me the "yeah, but they serve a purpose" speech.

I also need a scotch.

[Duelist]

I'd join for the scotch, but I don't drink. This might drive me to it.

Really need some range therapy. With some little orange explody-type targets, maybe.

[scott]

I finally won a years long fight this year. Just in time to owe tax on the interest they payed for holding onto my money for so long before....

[hufnagel]

Given the pathetic nature of interest rates for savings accounts, I've continued to error on the side of a refund. It makes it easier to keep spending lower, and has provided the ability for us to bank the refunds for a couple a years, allowing us to fund a couple large projects these past few years. The other aspect of it means I won't we've continued to have a decent "war chest" for times of income disruption, such as when the wife lost her job last year. Ironically, we didn't need it due to circumstances (instead of a lump sum severance she was able to take it as a regular pay check until the end of the year, she was able to receive unemployment, and she found gainful employment before the end of the year which resulted in several months of overlapping pay checks) but Murphy's law doesn't hold a candle to Hufnagel's Law of Universal Screwing, and I know if we hadn't had the war chest she'd still be unemployed to this day.

My point being, for us at least I'd rather get a large refund every year, as it's easier to not spend a $5000 check than it is to not spend the dribbling coming from those pay checks.

[CCT125US]

Received a nice refund, just in time to pay half year property tax.....

[SouthNarc]

I got bent over and corn-holed by the tax man.

[BJXDS]

I am still amazed at the people that think the gubment is giving them money when they get a refund. I think they should properly call it return of Over Payment.

[farscott]

I am still amazed at the people that think the gubment is giving them money when they get a refund. I think they should properly call it return of Over Payment.

Is not "return of over payment", the very definition of the word "refund"? I believe the word choice is correct.

Where it does fall down is the Earned Income Credit (EIC), where it is possible to have a tax credit greater than any tax paid. Then the government is indeed giving someone other people's money.

[BJXDS]

Is not "return of over payment", the very definition of the word "refund"? I believe the word choice is correct.

Where it does fall down is the Earned Income Credit (EIC), where it is possible to have a tax credit greater than any tax paid. Then the government is indeed giving someone other people's money.

OK they refund my overpayment, but not really because I refund them the tax I owe. I am sure some of that is stimulating the economy in the form of EIC.