Accounting question re tax refund

[Roland Roberts]

Jason Ahrens wrote:
> 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
As Mike Alexander pointed out, it's not free and clear.  It was 
deductible in the original tax year so it did not count then as taxable 
income.  If they allowed it to not be declared in subsequent years, I 
would arrange for larger overpayments 8-)

roland

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