Yes, it's tax season again. We can tell because Joe has become invisible, and will be until mid-April. Like most folks who like paycheck to paycheck - and want their tax money back ASAP, we wait for the moment when all the forms coem in, and we fill out our 1040's. This year, getting it done on the 1st of February is irrelevant.. Or the 2nd, or the 3rd, or the 4th.
As part of the recent tax cut package passed by Washington in December (the one that gives me $7 a week more in my paycheck), there was a little know codicile in the agreement that affects your tax return. What is it? Well, no matter when you file your return, the IRS will not start processing them until February 14th. Yes, you'll have to wait until Valentine's Day to get it started. That is the IRS' way of showing their love for you. Or not...
Why are they doing this? Well, we didn't get any official word, but it's usually one reason: money. Well explain. Your tax overpayment dollars are basically an interest free loan to the Federal Government. They in turn take your money and invest it, or use it to pay interest on the national debt. Free used? Maybe you should... So, the longer they can hold onto that money, the more debt they can pay off before paying you back.
If two weeks doesn't sound like much, think again. It's billions. Maybe you'd feel better knowing that you contributed to helping lessen the national debt. That's the glass is half-full view. Then again, if we go back to the normal return schedule in 2012, then we're two weeks short of incoming/outgoing cash flow. Did anyone think of this? Probably not. DC's not a long-term thinking kind of place...
Two weeks will not kill you. Deal with it, and get that nice surprise when you've completely forgotten about it. Yeah, we depend on that money much more than we should, but it is what it is... After all, getting thumbed in the eye by DC should be old hat by now.... Is it Valentine's Day yet?
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