eli5: can someone explain tax returns?

1.17K views

i always see so many people talk about tax returns or tax season around this time and its so confusing. to me it seems like free money

In: 9

20 Answers

Anonymous 0 Comments

• You get a job

• Job takes money out of your paycheck for taxes.

• You file your taxes (tax return) every year to check how much taxes you owe.

• If your job didn’t take enough out, you got to pay the extra you owe.

If your job took too much out (maybe you had extra deductions/credits), you get a **tax refund**.

You are viewing 1 out of 20 answers, click here to view all answers.