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Is there a math whiz in the house?
How much interest does the IRS earn by holding 3 million refunds at an average of say, $8000.00 for a month? Could there be a money manipulation motive in the refund delays?
Have you seen it there, Pat?
2 Answers
- Anonymous9 years agoFavorite Answer
Your nation uses "fiat currency", Lesley....the IRS is part of the government and the government owns ALL the money....they earn zero interest on it, and do not NEED to, if they want some more they can just have the Fed PRINT them some more, you silly goose!
A better question might be "Why are some people so bad at Math that they voluntarily overpay their taxes, thus making an interest-free loan to the government?"
Anyone getting an $8,000 tax refund is an idiot.
You can amend your W-4 at any time, adjusting down (or up) the amount your employer withholds from your pay towards taxes...