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Arghhh.......

neacpaneacpa Member Posts: 2,703 ✭✭✭

Doing income taxes can be very frustrating at times. The tax system has turned into a welfare system. Example.......today I did a return for a single girl that had 3 kids, all under 6 years of age. Income of a bit over $25k. One of the kids was born in 2021. She did have about $2,400 of federal withholding out of her W2, and after the child tax credits and EITC, she had a refund of just under $16k. Again, $16k. That is after she had already received $3,600 of the child tax credit advances for the last 6 months of 2021. Which means she received almost $20k of refunds......on $25k of income. So, basically she had $45k of income and not paying a single penny of income taxes. Then her and her kids are getting free medical, WIC, food stamps and every other dang freebie that can be thrown at her. This is one of probably a few million of folks across our nation that can legally do this, and then you have the millions who are illegally doing it.

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