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Are people getting smaller than usual tax refunds this year?
Posted on 1/31/24 at 1:05 pm
Posted on 1/31/24 at 1:05 pm
I'm deep diving in some TikTok comments and I'm hearing "I usually get $3,000 back and this year it's $300" or similar stories. Are there changes this year that are making a big impact or is this just the usual idiots that have no idea what they're talking about?
11
Posted on 1/31/24 at 1:06 pm to OysterPoBoy
Usual idiots. They never seem to compare apples to apples. My firm is not seeing anything of the sort.
Posted on 1/31/24 at 1:08 pm to OysterPoBoy
Just the ones that don’t know how to fill out a W4 and automatically thinks that correlates to the person in the WH
Posted on 1/31/24 at 1:10 pm to Weekend Warrior79
That's good to hear. I kind of figured it was people with drastic different situations only comparing their refund and nothing else.
Posted on 1/31/24 at 3:05 pm to OysterPoBoy
I expected to pay in and got money back. So I was pretty stoked 
Posted on 1/31/24 at 3:07 pm to VolSquatch
I’m gonna go burn those idiots in the TikTok comments.
Posted on 1/31/24 at 5:03 pm to OysterPoBoy
I had more take home, a larger refund, and paid less federal taxes this year.
Our tax code is stupid, but I don't make the rules...
Our tax code is stupid, but I don't make the rules...
Posted on 1/31/24 at 7:33 pm to OysterPoBoy
What’s a refund? Haven’t seen one of those in a long time
Posted on 1/31/24 at 7:43 pm to Rize
It’s almost always due to a W4 issue. Especially if you are two income and one spouse is in a higher bracket.
In general, Tik tok is god awful for anything tax related. Some of what I see on there is straight up illegal.
In general, Tik tok is god awful for anything tax related. Some of what I see on there is straight up illegal.
Posted on 1/31/24 at 7:50 pm to TigerinOkieHell
quote:
It’s almost always due to a W4 issue. Especially if you are two income and one spouse is in a higher bracket. In general, Tik tok is god awful for anything tax related. Some of what I see on there is straight up illegal.
Yeah we owe federal every year and get a little back from state. No write offs and wife and I claim zero and none. We pay a CPA like $500 to do my taxes
Posted on 1/31/24 at 7:54 pm to OysterPoBoy
quote:
I'm deep diving in some TikTok comments and I'm hearing "I usually get $3,000 back and this year it's $300" or similar stories.
Let them believe that... Maybe the tik tok generation will vote with their wallets and not feelings in 2024.
Posted on 1/31/24 at 7:56 pm to Rize
I don't ever get all of the paperwork to do ours until about the end of February. My goal is for it to be as close to $0 as I can get it.
Posted on 1/31/24 at 9:54 pm to OysterPoBoy
Tax code had minimal changes to it in 2023.
Posted on 1/31/24 at 10:36 pm to OysterPoBoy
There’s been a lot of tax rate changes in many states the last couple of years, and sometimes withholding tables are slow to update.
That would not explain a large difference though.
Anyone posting on tik tok on 1/31 about a tax refund is probably not good with money.
That would not explain a large difference though.
Anyone posting on tik tok on 1/31 about a tax refund is probably not good with money.
Posted on 1/31/24 at 10:50 pm to OysterPoBoy
God bless. It's wild to me how tax dumb our country is. I'm not talking about OP, I'm talking about the tiktok world is on this.
I consistenly see suggested mortgage fraud as a "house hack.'
Just random horrible ideas.
Tax season is simply settling up the tax bill either way.
I'm self employed and pay each quarter. There's no reason with google and youtube for so many to have NO idea how taxes work.
I consistenly see suggested mortgage fraud as a "house hack.'
Just random horrible ideas.
Tax season is simply settling up the tax bill either way.
I'm self employed and pay each quarter. There's no reason with google and youtube for so many to have NO idea how taxes work.
Posted on 1/31/24 at 10:52 pm to OysterPoBoy
Explosive wage growth
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