Why do I have to pay taxes on my 2007 tax refund?
March 26, 2009 by Tax Forum
Filed under Questions & Answers, Refunds
psychgrad asked:
I will admit that I am not financially savvy and I am thankful that someone can do my taxes for me.
Every year, we have to pay taxes on the tax refund from the previous year. To me, that seems like I’m being doubled taxed. I overpaid the government, they refund me, but then they take money back out of that refund of money that should have originally been mine?
Arg…..Can someone explain this to me?
We lived in 2 states last year, so we will be paying taxes on two refunds.
Don’t get me wrong. I don’t understand why I have to pay taxes on a refund, but I still do it every year. I’m not interested in trying to trick the IRS or the state government.
I will admit that I am not financially savvy and I am thankful that someone can do my taxes for me.
Every year, we have to pay taxes on the tax refund from the previous year. To me, that seems like I’m being doubled taxed. I overpaid the government, they refund me, but then they take money back out of that refund of money that should have originally been mine?
Arg…..Can someone explain this to me?
We lived in 2 states last year, so we will be paying taxes on two refunds.
Don’t get me wrong. I don’t understand why I have to pay taxes on a refund, but I still do it every year. I’m not interested in trying to trick the IRS or the state government.