Tax return question - Is it fair?

[Keg]

I'll bet ya a dollar I am part of the same generation you are.

I'll bet ya a hundred thou U ain't....

[bowhuntntxn]

Is it ethical to put it in your pocket if you know whose money it is?

Whose to say? I might think it isn't ethical, but others might not feel the same way.

[EastTexasMan]

Can I at least get a thank you Bow hunt? I mean it's the least I could get for my part of your bonus check. I love waking up at 5 am and getting home at 6, working 400+ hours of overtime a year. At least make me feel good.

[RatherBhuntin]

Yes.

Would it be FAIR and/or LEGAL if you find a $100 bill in the parking lot of the grocery store, bend over and put it in your pocket?

The wife and I were coming out of Academy one day and a fifty dollar bill was on the ground right by the doors. Didn't know who's it was, but we did not keep it. Went back in and gave it to the Mgr.

[manwitaplan]

All of this is for the VOTE! 09 -12 the dependents went from 2 to 3 now at the end of 2013 it expires. Who is in office during this time frame?

I dont care if it is legal or fair it sux. I have 2 kids and work my arse off and pay in a bunch. I do not come close to qualifing for that credit. So if i could have 3 kids or more and make 48,000 or less I can actually get more money back than I paid in? Freaking Crazy!

Denowt - I see your point and I am glad you spoke up! I do not judge you and I think the system is designed to help people in your shoes. My issue is the people abusing the system.

Never mind , some of you have got my blood boiling........




For the years 2009 through 2012, the Earned Income Credit is temporarily increased for working families with three or more dependents. Previously the earned income credit maxed out at two dependents. The earned income credit will revert back to maxing out with two dependents starting in 2013.


Advance Earned Income Credit
2010 was the last year for the taxpayers to receive an advance of their expected earned income credit as part of their regular paycheck. This program was eliminated as part of HR 1586.

Earned Income Tax Credit Amounts for Year 2012
The maximum earned income credit for 2012 is:

$5,891 with three or more qualifying children;
$5,236 with two qualifying children;
$3,169 with one qualifying child; and
$475 with no qualifying children.

Earned Income & Investment Income Limitations
Earned income means wages and net profits from self-employment. Wages are reported on Form W-2. Self-employment is generally reported on Schedule C or on Schedule F for self-employed farmers.

To be eligible for EIC, both earned income and adjusted gross income (AGI) must each be less than the following amounts for 2012:

$45,060 ($50,270 married filing jointly) with 3 or more qualifying children
$41,952 ($47,162 married filing jointly) with 2 qualifying children;
$36,920 ($42,130 married filing jointly) with 1 qualifying child; or
$13,980 ($19,190 married filing jointly) with no qualifying children.

[Keg]

Whose to say?

Boy oh boy....

[bowhuntntxn]

The wife and I were coming out of Academy one day and a fifty dollar bill was on the ground right by the doors. Didn't know who's it was, but we did not keep it. Went back in and gave it to the Mgr.

That is great. The question was is it fair and legal for you to keep it if you chose to. Because you would have more, and someone else would have less, so by everyone else's logic that is unfair apparently.

And it also would be legal since you did not commit a crime to obtain the extra money.

[iamntxhunter]

Yes.

Would it be FAIR and/or LEGAL if you find a $100 bill in the parking lot of the grocery store, bend over and put it in your pocket?

If you are trying to make a correlation of finding money laying on the ground and getting something that you receive from the labor of others is ridiculous even if the govt says its legal. Just cause it may be legal dont make it right or fair.

If i saw someone drop 100.00 that was unaware and i knew that it belonged to someone else? Of course it wouldn't be right, fair or legal. Would it be legal, fair or right if I did not know who dropped it? Yes

By you comparing the two is really all I need to know.

You need to look up these words.
Fair.
Right.
Legal.
They are not all the same.

[M-2]

I would strongly disagree with you.
I am a single father of 1 and I usually get back more than I pay in. I plug my info into TurboTax, answer all questions truthfully, and it tells me my refund.
While I do not think it is right or fair, I sure as heck ain't gonna give it back.
I am not committing ANY type of FRAUD, therefore I shouldn't be prosecuted for anything.
I agree, the laws need to change though. No one should receive a refund for more than they paid in. Owing $0 is fine by me, but making money from the IRS isn't right.
They way the system is set up, I make less than the maximum for the EIC and child tax credits, but I make too much to qualify for any type of assistance.

M-2: I apologize, denowt, for not having quoted Post #26 when I posted "It's taxpayer fraud, not a "loophole". And everyone who practices it should be prosecuted (better yet, STOPPED with better oversight).", in which a video was posted about "Illegals Taking Advantage of Loopholes". I was saying that what those people are doing (falsifying returns with non-existent children in the household) is fraud, since they lied and cheated.
The EIC is designed exactly for people like you, to assist you. You are committing no fraud at all. Merely taking advantage of the current tax code (this part in place since 1975). This is how YOU are receiving needed assistance.
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Originally Posted by denowt: You're part of the problem for hiring illegals!!!
If no one hired the illegals, they wouldn't keep coming.

M-2: I agree. But the fact is, that US business NEEDS these people. The US Chamber of Commerce wants immigration reform, to ensure something is done about the untenable system we have in place now - here is their stance:
U.S. Chamber of Commerce Statement on Comprehensive Immigration Reform

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Originally Posted by denowt: I've been in a similar situation. One year, I paid in around $1800 and received $3200 refund. No fraud, all 100% legal and legit.

M-2: Absolutely. No fraud at all.
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And to Darton:
You posted this:
A government big enough to give you everything you want, is strong enough to take everything you have. -- Thomas Jefferson

Thomas Jefferson never said this. The first recorded print version of this statement is from 1953.
It irks me to constantly see quotes by Founding Fathers posted here - things they never said. Points CAN be made without putting words in the mouths of our nation's founders. Thanks.

[EastTexasMan]

Dude, the question NEVER SAID WAS IT LEGAL. It said was it fair.

Obviously, you have some twisted belief that everything legal is fair.

[roguecraft101]

That is great. The question was is it fair and legal for you to keep it if you chose to. Because you would have more, and someone else would have less, so by everyone else's logic that is unfair apparently.

Yes, It is in essence theft. If you leave your car in the parking lot, in YOUR logic it is fair for someone else to get into it and drive it away.

Right and wrong has never in the history of this planet been determined by law. Argue till your face is blue and justify to your grave. When we both die my conscience will be clear and yours will be legal.

[stickemhard3]

I see the term "ethical" is becoming more relative in todays society or maybe i was just naive growing up and understanding the meaning. Sad how a man can let a governing body dictate his beliefs and core values. To each their own i guess.

[Darton]

Hey you got to offer us all one cause thats the only fair thing. Ya know what I mean.

That sounds fair!!!! All drinks are on me everyone

[RatherBhuntin]

That is great. The question was is it fair and legal for you to keep it if you chose to. Because you would have more, and someone else would have less, so by everyone else's logic that is unfair apparently.

To me that was the fair thing to do and what was the right thing to do. You can not compare fair and legal in this situation.

What if that was your money on the ground and you went back looking for it. Was it my fault you lost it? No. Would you have liked to have it back? Yes.

It could of been someones grocery money and now they can't feed their kids. But who cares I got some extra money.

[bowhuntntxn]

Dude, the question NEVER SAID WAS IT LEGAL. It said was it fair.

Obviously, you have some twisted belief that everything legal is fair.

FAIR is subjective. Because what YOU think is fair may or may not be the same as what someone else defines FAIR as. So in your world, your belief of what is fair is how YOU live. And in my world, my definition is what I go by. They may conflict but that is ok. Because I am not condemning you for your definition, if you would do the same for me.