Saturday, February 21, 2009

Now Another Reason to Owe Taxes Instead of Getting a Refund

I've always been a proponent of paying a small amount with my tax return versus getting a refund. The reason is that I prefer to have the use of my own money instead of giving an interest free loan to the government.

The economic crisis of 2008 has given me another good reason. Two states, California and Kansas, temporarily stopped issuing tax refunds due to a budgetary crisis. So even though the money rightfully belongs to the taxpayer (since it is overpayment of taxes), the state is refusing to issue a refund, because of it didn't manage its budget properly. Sheesh.

Another example of why I don't want government handling, spending, or holding money that is rightfully mine.

For more on Reflections and Musings, check back every Saturday for a new segment.

This is not financial or tax advice. Please consult a professional advisor.

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