Friday, 27 March 2020

When do taxes go out?

Iris Shawcroft: Not everyone gets a refund - sounds like you don't understand what a refund is. For most people it's a return of an overpayment with what was withheld. Taxes are something people PAY.That said, people who get a refund get it 2-8 weeks after they file their return.

Frederick Mccoach: You may be thinking of "When will tax returns begin to be accepted by the IRS, and then any resulting tax returns be disperesed to taxpayers?" They're telling us to tell people Feb. 21.

Byron Fortmann: The government receives taxes, you do not. When you file your tax return it will determine what you owe. If you have had more withheld than you owe you will receive a refund of the difference. If you owe more than the amount withheld you will be required to pay the balance.

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