'TIS THE SEASON.... NOT TO GIVE AWAY YOUR 2012 TAX REFUND......by Bob Smith 
Monday, July 2, 2012, 02:40 PM
Posted by Administrator
Tax refunds are great. I used last year's refund to buy a lever action .22 rifle and a GPS ...so that I could stand in the exact spot where Northern Wyoming and Canada meet and shoot at Canadian rabbits from the American side.

I missed.

But, do you really want a refund? Sure...if you've got plans to go to Hawaii. Not so much if you are going to file bankruptcy, because, if you file towards the end of the year....or before you get and spend your refund (in some legitimate way like fixing your roof or your teeth)...you may lose it to the Court-appointed Trustee. (Note that some portion of your refund may be exempt under bankruptcy law because it is in the nature of welfare for your kids.........so they can come with you to Hawaii.)

If you owe back child support, your State may take your refund. Of course, you should support your kids and you are a schmuck if you don't pay your child support. Still, even schmucks have rights....just not as many of them as nice people do.

Should you go to your personnel department, the person who writes your payroll, or whoever figures your deductions and tell them you have more kids then you thought you did???? Increase your exemptions to make sure any entitlement you had to a refund will disappear by year's end? Is it legal to fix it so the IRS doesn't hold on to your money until next February or March or November?

I have no idea.

Editor's Note: Bob Smith is a retired South Florida lawyer who writes from his home in Northern Wyoming or from his favorite table at the Tim Horton's Donuts in Medicine Hat (2355 Trans Canada Way in Alberta....there are, of course, several Tim Horton locationsin Medicine Hat.)


add comment ( 7 views )   |  0 trackbacks   |   ( 3 / 1021 )


<Back | 1 | Next> >>