Of course, the earlier you file your return, the quicker you get your refund, since you have a greater chance for fewer returns to compete with yours in the system. However, the IRS tells us that a refund may take 4-8 weeks. The free market program Turbo Tax gives you a return much faster -- regardless of when you file and how many returns are in the system.
Anyhow, the free market has functioned in the mortgage lending business exactly how it has functioned in any other business. Loans were made in poor judgement, loans were taken in poor judgement, the lenders are dealing with the consequences (going out of business), and the borrowers are dealing with the consequences (foreclosures).
Things are working out just fine. Besides, only 2.5% of all mortgages in the US are delinquent sub-primes anyhow. An even smaller number are in foreclosure.
Of course, the earlier you file your return, the quicker you get your refund, since you have a greater chance for fewer returns to compete with yours in the system.
You really don't know that. The IRS has a schedule that gives you an estimated time of return based on a filing date.
Originally Posted by skipster
However, the IRS tells us that a refund may take 4-8 weeks.
More speculation from a bullshitter who really doesn't know of what he speaks. Note: as mentioned above I got my return in 10 days. Since we started electronic filing (maybe a decade ago?), my returns have never taken as long as 4 weeks.
Originally Posted by skipster
The free market program Turbo Tax gives you a return much faster -- regardless of when you file and how many returns are in the system.
Another patently false claim. I could have used HR Block. I could have used the IRS's own program to file. I'm sure it doesn't matter to the IRS how they got the return, so long as they have it and it is correct. I used Turbo only b/c I've used it before and know how it works.
Again, Skipster shows his willingness to fabricate facts whenever they don't fit within his narrow view of the world. More Liar-faire, so to speak.
There is this republican talking point as to how everyone seemed to be a dummie who entered into a risky ARM. We're not just talking "sub-prime".
There are a number of factors why there is a mortgage CRISIS, just one of which is buyer mistake. A larger factor is the greed of the lender/broker. All they wanted was to maximize their own profits as the market was booming. Another factor is one the republicans are loathe to ever admit.
They do not ever want to admit that the economy was struggling for quite some time and the ripple effect is finally apparent to the masses.
Yes, Mr Bush has been less than proactive in dealing with the ever plunging economy. His Stubborness waits till things implode before he ever does anything...except for Iraq, which was not going to implode until he invaded.
You really don't know that. The IRS has a schedule that gives you an estimated time of return based on a filing date.
Somehow, matclone, you seem to think that any time I post something it is a lie, just because I posted it. You totally disregard what the post actually says and write it off as a narrow view of the world.
But, if you actually read my posts, you would see that none of my assertions are false. According to the IRS website:
If you file a complete accurate tax return, your refund will be issued within six weeks from the received date.
Six weeks in in between the 4-8 weeks that my IRS instructions said last year. Electronically-filed returns should receive refunds within 3 weeks.
It only stands to reason that refund times will be slower when more returns are being processed. Lately, the trend has been for more returns to come in later in the season than early. When more returns are available to be processed, the time to refund usually slows down. Therefore, my statement was not incorrect. However, if you disagree with that statement, you should also point out that Password said the same thing. Perhaps you should tell him that he doesn't really know that.
Originally Posted by matclone
More speculation from a bullshitter who really doesn't know of what he speaks. Note: as mentioned above I got my return in 10 days. Since we started electronic filing (a good decade or so ago), my returns have never taken as long as 4 weeks.
As posted above, check out the IRS website http://www.irs.gov/taxtopics/tc152.html for refund information. Electronic filing should give you your fefund faster -- I have NEVER said that it wouldn't. But, it is no speculation that the IRS says that paper filed returns will receive refunds within 6 weeks. It truly is BS to declare people don't know what they're talking about when they actually do.
Originally Posted by matclone
Another false claim.
Again, Skipster shows his willingness to fabricate facts whenever they don't fit within his extremely narrow view of the world. More Liar-faire, so to speak.
Again, we find that matclone jumps to conclusions based on who the poster is, not based on what the post actually says. If you want to consider the history of e-filing tax returns, the IRS worked with private software developers and pirvate accounting firms to begin the electronic tax return system. Still today, you can not electronically file without a private third-party entity: either a software company or an accountant, both of which are free market entities who operate for profit.
Bottom line: my claims were truthful and accurate. I have used facts to explain my position and refrained from name calling. I hope you can do the same next time.
There is this republican talking point as to how everyone seemed to be a dummie who entered into a risky ARM. We're not just talking "sub-prime".
There are a number of factors why there is a mortgage CRISIS, just one of which is buyer mistake. A larger factor is the greed of the lender/broker. All they wanted was to maximize their own profits as the market was booming. Another factor is one the republicans are loathe to ever admit.
They do not ever want to admit that the economy was struggling for quite some time and the ripple effect is finally apparent to the masses.
Yes, Mr Bush has been less than proactive in dealing with the ever plunging economy. His Stubborness waits till things implode before he ever does anything...except for Iraq, which was not going to implode until he invaded.
Apparently you have a problem separating facts from emotion. Remember that Congress holds the purse strings, NOT the president. The democrat-led congress didn't do anything to help matters, did they? Besides, we have a free market system in which things are best for when government steps out of the way.
We could get into a lengthy discussion about greed and whatnot, but the bottom line is that people took out loans for which they didn't have the resources to meet the terms. But, don't think that those people are the only ones payign the consequences. Most of those lenders are now out of business or on their way out of business. They have suffered the consequences of their actions, as well.
If we are going to objectively assess situations, we need to be able to remove emotion from the situation. You seem to be bent on the greed of the lenders, but what about the greed of the borrowers to get as much money as they could for as little as they could? Why did they have to be so greedy as to want to take a loan at really low interest rates? Isn't that ripping off the lender?
Remember that everything in life works two ways. You can't say the lender was greedy without also saying the borrower was greedy.
Besides that, the economy was fine and was doing better than at any other point in history (DOW 14,000 and highest government revenues ever, for example). Yet, I wonder why it is that people who don't like Bush are happy to point out that the economy isn't as vibrant now as it was 6 months ago? Why do they revel in bad news for our country?
Filing Taxes has Never Been easier 
Linear Mode
