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View Diary: Mitt Romney claims to have intentionally overpaid 2011 taxes (158 comments)

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  •  Question on overpaying... (1+ / 0-)
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    ssgbryan

    Let's say he didn't even worry about deductions --- sometimes you read about Republicans saying stuff like "Well, then that Democrat can willfully overpay if he cares about taxes so much!"

    But wouldn't that person just wind up having it recalculated and gotten a refund anyway?

    One year I over paid and the IRS sent me a check.

    •  Clarification (1+ / 0-)
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      maybeeso in michigan

      Sorry, to clarify, I miscalculated what I owed when taxes were due and wound up sending in a check for higher than I truly owed. Then I got a refund on that separately in the mail.

      •  I've made (0+ / 0-)

        an error in calculations as well and was sent a check.  I've also had several years running when I was sent notice that I was claiming deductions that wasn't collaborated by my mortgage company - seems as though they didn't send in their required info on my mortgage interest - that is why I think Citimortgage sucks big time.  The first time I was told I owed IRS big money I nearly crapped my shorts.  But after that I came to expect that Citimortgage would screw it up.

        "You have attributed conditions to villainy that simply result from stupidity"

        by newfie on Fri Sep 21, 2012 at 11:36:22 AM PDT

        [ Parent ]

      •  Depends where the miscalculation is (0+ / 0-)

        If you fail to claim a deduction or credit, they don't correct it for you (because they don't have the information). But from the "taxable income" line through the rest of the return, for example, if you look up the number wrong in the tax tables, or miscalculate the Earned Income Credit, or understate what was withheld from your paycheck (a number they have from the employer), or during the Bush rebates forgot that you hadn't gotten that $300 check yet, then the IRS will recalculate for you and send you either a check or a bill.

    •  Not really (5+ / 0-)

      What he is saying is that he was entitled to a larger deduction,  but that he claimed a lesser amount on his return. The IRS doesn't know what amount he didn't claim (at least until he loses the election and files an amended return), therefore there is nothing for the IRS to correct.

      "Well, I'm sure I'd feel much worse if I weren't under such heavy sedation..."--David St. Hubbins

      by Old Left Good Left on Fri Sep 21, 2012 at 11:24:49 AM PDT

      [ Parent ]

      •  Maybe I'm misunderstanding... (0+ / 0-)

        I get that part of HIS argument. What I don't understand is the "then pay more!" argument.

        So, say for example, everything is set and I owe $1000. The IRS doesn't care about my deductions, it's not their responsibility, But instead of $1,000, I decide to send over $10,000.

        Won't I just get that $9,000 back right away? It doesn't just go to the government. That seems to be what a lot of people who tell someone just go go pay more taxes -- but if you don't OWE any more taxes, how does that work?

        That's why I never understood the whole "pay more taxes" argument.

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