Search Fishin.com

Results 1 to 3 of 3

Thread: KY & taxes

  1. #1
    Join Date
    Dec 1969
    Location
    Danville, KY.
    Posts
    131
    Post Thanks / Like

    KY & taxes

    Ok, I may not be an economist but this is crap

    I work for a living and pay my fair share of taxes to the great Commonwealth. As a matter of fact I paid so much last year that they decided that I should get some of MY money back and sent me a tax refund.

    Today I get a tax form from the great Commonwealth reminding me to claim that refund on my income this year so they will get a second chance at that money.

    I just don't believe that this is what the founding fathers had in mind.

  2. #2
    Join Date
    Dec 1969
    Location
    Lexington, KY
    Posts
    11,431
    Post Thanks / Like

    Re: KY & taxes

    It hurts for sure! I feel your pain.

  3. #3
    Join Date
    Jan 2007
    Location
    Louisville, KY
    Posts
    2,538
    Post Thanks / Like

    Re: KY & taxes

    Your state tax refund is money that you paid to the state to cover your taxes, but overpaid. Since it was withheld, or otherwise paid, towards your taxes, it doesn't count as "taxable income" on your federal tax return. And since your state return is based on your federal return, it's in effect money that's never been taxed. Now, for me it's not a whole lot, but if they didn't make you declare it, there would be people out there having 3/4 of their income withheld as state tax, to avoid ever paying taxes on that money. Does that soften the blow any? It always irks me to have to declare that money, too, but at least there is a logical explanation for why we have to.

Similar Threads

  1. Taxes and Politicians
    By peter in forum "Off Topic" Posts
    Replies: 22
    Last Post: 10-16-2011, 10:13 PM
  2. no new taxes REALLY
    By BigPoppy in forum Kentucky Discussion Board
    Replies: 3
    Last Post: 09-04-2011, 11:49 AM
  3. New Taxes
    By know1 in forum "Off Topic" Posts
    Replies: 15
    Last Post: 02-18-2009, 04:19 PM
  4. Taxes
    By Tom523 in forum "Off Topic" Posts
    Replies: 4
    Last Post: 02-03-2009, 04:27 PM
  5. Gas taxes.
    By DJD in forum "Off Topic" Posts
    Replies: 10
    Last Post: 08-05-2008, 12:10 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •