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Tax refunds are nice, but savings provide a better payoff

D o you overwithhold to get an annual tax refund because money burns a hole in your pocket? (Photo by Matthew via Flickr) It's no secret that Americans like their tax refunds. The Internal Revenue Service for years has reported that most filers get at least some money back at tax-filing time. That refund data has fueled another annual debate. How to get people to adjust their withholding so that they get use of their money throughout the year in paychecks instead of having to wait for it i...
Tags: Taxes, Irs, Matthew, U S Treasury, Internal Revenue Service, Urban Institute, TPC, Gleckman, Bank of Uncle Sam, Howard Gleckman Gleckman

Fed shutdown underscores why to adjust payroll withholding

Today should be payday for hundreds of thousands of federal government workers. The partial government shutdown, however, means they're not getting their money. And even though the White House, Treasury and the Internal Revenue Service say that the 2019 filing season will open at the end of January as it has in years past and that refunds will be issued, there's no guarantee that things will go smoothly. We are, after all, talking about Uncle Sam's operations. Can IRS meet refund challenge? T...
Tags: Taxes, Maryland, Treasury, Capitol Hill, Irs, Fed, Don, Internal Revenue Service, Uncle Sam, White House Treasury, Sen Chris Van Hollen, Benjamin Cardin, Charles Rettig, White House s Office of Management and Budget OMB, Bank of Uncle Sam