HP3000-L Archives

July 2001, Week 4

HP3000-L@RAVEN.UTC.EDU

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Subject:
From:
"Steve Dirickson (Volt)" <[log in to unmask]>
Reply To:
Steve Dirickson (Volt)
Date:
Tue, 24 Jul 2001 14:43:13 -0700
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[yes, this is pretty late to be jumping into this thread; I've been
off-line for a couple of days]

> The way that money is calculated is that if you filed your 
> taxes on your 2000
> earnings and received a $1000 refund earlier this year, in 2001, the
> government is anticipating that you will file essentially the 
> same tax papers
> again next year, on April, 2002, and again you will receive 
> approx. a $1000 tax refund.

What about those of us who have not yet filed their 2000 (or 1998, or
1998) returns?

> Further, it's important to understand that this "refund" 
> check is not merely
> taxable income that you add into your gross income revenue, 
> it is *the* tax.

If the situation is described, it doesn't sound like this should be
associated with any kind of "taxable income" at all; i.e. it would not
appear anywhere on the front of the 1040 or on schedules supporting line
items on the front page. Rather, it sounds like it will be a new line
after the "This is your Total Tax" line on the back of the 1040, either
as a line to be added to the tax due or to be subtracted from the
refund.

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