What is a tax refund and why do you need to do it?
I don't need to get a refund, I don't need $100, but why do people do tax refund?
Is it just a refund?
Is it just looking at the report of the tax records that you paid?
What exactly is it?
Ron Akia
A tax refund occurs when you've paid more than you owe into the IRS. You need to fdile a return in order to receive it. Example, your tax liability for 2019 comes out to 1983.10 and you've paid 2,183.10. You'll be entitled to a 200 refund.
mercedes
It is giving you back what you overpaid.
curtisports2
A tax refund is when the government returns to you the amount you overpaid, through payroll deductions, toward your yearly tax bill. To know if you will have a refund or need to pay additional tax (because enough was not withheld from pay), you must complete the tax return.
Judy
A tax RETURN is a form you need to fill out and file each year that you make a certain amount of income. On the form, you calculate the amount of tax you owe on your income, and compare that to what you've already paid in for the year, maybe through withholding from your paychecks. If you paid in more than you owe, the extra is refunded to you. If you didn't pay in enough, you have to pay the rest.
I Hope A Bear Eats You
It can be a refund of your own money, but it's often a "refund" of money that was never paid by the receiver.