March 5, 2018
Tax Season
All single adults with no dependents pay more into the irs than any other filing group. The refunds, if any, SUCK and its an insult to all. There are no credits, no help from the irs what-so-ever. A single person has to pay the whole boat in daily life and plus 8%-12% more into the irs. A single person should not be punished for choosing and not choosing to be single. The maximum amount of EIC for Singles' between income $6650 & $8350 at $510 credit. The EIC goes away completely once they've made $15,000. At $15,000 income for the MFJ (no dependents) is at $426. The $15k income with dependents (1,2,3) is as follows (for HOH, Widow, MFJ) $3,400; $5,616; $6,316. EIC goes away for all at $53,930 agi. The tax opposed by the irs for all groups at $15k is also very different. Single & MFS are the highest at $1,780. MFJ/Widow(er) gets the lowest at $1,498. HOH falls in the middle at $1,579. The tax rate on income $7,500 is the same for all groups at $753. It starts to change at $9,350+. The taxes need to be the same for all group across all incomes or credits need to be offered to single filers. But with the current moron potus we have, none of us will see any actual changes until the real math comes out in December. Meanwhile, we all live in limbo waiting to see how badly we get, um, insert your own cuss word... My taxes were so bizarre for last year, I had to pay to get them done. The fee came to about 48% of my total refund. Pretty sad. Not sure what will take to get real change within the irs, but it would help Millions of single filers and increase the ability to spend more money in daily life to fuel the economy. Right now, many of them are having to figure out how to buy the food needed, pay utilities and keep cars running just to get to work. That isn't a sound economy plan for the single filer plus the irs is forcing them to pay more.
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