Guest Marshall Steinbaum On Recent Developments in Tax Credit Discourse
Added 2020-04-07 16:44:56 +0000 UTCMatt is here with a special midweek bonus episode, talking to returning guest Marshall Steinbaum about the advanced tax rebate in the Coronavirus emergency legislation and the interesting ways in which that rebate was handled in the discourse. Ultimately we learn the EITC is bad, once again.
Comments
My son makes less than $30k/yr. TaxAct was going to charge $70 in fees to process his $600 refund. I did some research and found the horrendous injustice you guys talked about here. I went old school. I used a free service. I mailed in his return. He got his full refund. Cost: two stamps. I feel like a badass! A rebel!
2020-04-16 01:09:04 +0000 UTCOn the difficulty of targeting spending programs in the current year, Australia's Family Tax Benefit is paid based on your own estimate of your income for the year, then reconciled at tax time. It's helpful that our tax filing system is pretty efficient - the tax year ends on 30 June, you can file online from 1 July and if you're owed a top-up you could have it by 8 or 9 July. The downside is the income cliff can bite hard - eg if you estimated your household at $99,999, the 100,000th dollar will see you owe around $5000 back to the government. Can be tough for people who do overtime or irregular shifts to get that estimate spot on.
Matt Harris
2020-04-10 07:54:58 +0000 UTC
