Accounting question re tax refund

[Jason Ahrens]

Michael DeBusk said the following on 20/05/2008 10:22 PM:
> The last time I got a state refund, it was for one dollar. I aspire to
> someday break precisely even. :) I can't say I've ever noticed that line
> on the forms.
>   

It's actually really interesting that such a line exists. A tax refund 
is a refund you get on the years taxes because you overpaid. That you 
then have to claim that refund the next year as income is very 
underhanded. Basically the state is clawing back money that should 
already be free and clear because it was from a previous years books.

Jason