Got your attention? Good.
As of last week, the IRS had processed 75 million 2005 tax returns. And a whopping 90% of them called for refunds. The average refund or as i call it an interest free loan to the government is: $2,314
Here's an idea. You can get next year's refund in installments starting next payday. All you have to do is file a new W-4 form, Employee's Withholding Allowance Certificate, with your employer and adjust the number of allowances you are claiming. You can claim an allowance for yourself, your spouse and your dependents, for example. Each allowance basically makes $3,300 of your annual income off-limits for withholding. Claiming extra "allowances" on your W-4 will automatically push down withholding, which in turn will push up your take-home pay. You'll enjoy instant gratification from a do-it-yourself pay raise.
Good idea! I agree! :-)
If you want to read more, check out this artical from Kiplinger
Monday, April 17, 2006
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