Quote:
Originally Posted by Stress Puppy
Do you have kids? Everyone I know that has kids gets these thousand dollar returns.
|
Current tax law gives a $1,000 credit--that's a CREDIT against the tax you owe, not a deduction against your income--per child.
If it makes you feel better, "our" refund disappeared thanks to Mrs. Dallas having an unexpected bounty of freelance work with hardly any writeoffs against it. We hadn't really planned for it, so the bill's a bit of a surprise, though we're much better off having gotten the income than not (duh).
WTF moment: As a result, we should have, if we had paid more attention, paid estimated taxes to the state of PA. Not a huge amount--$33 per quarter--but nonetheless we did not pay. Therefore we are being assessed $5 extra in interest.
