In the next few months, millions of Americans will be receiving a check in the mail from the U.S. Treasury. Many people think it's a refund of the taxes paid last year, but it's not. Technically, the checks sent out in the spring and summer are advances on the taxes Americans are paying now (through paycheck withholding), or the taxes they will pay next April.
Find out more about Personal Taxes
Excellent
by Independent Author
Updated on: March 29, 2023 · 1 min read
Have you received your IRS check yet? In the next few months, millions of Americans will be receiving a check in the mail from the U.S. Treasury. Many people think it's a refund of the taxes paid last year; is it?
Nope.
Technically, the checks sent out in the spring and summer are advances on the taxes Americans are paying now (through paycheck withholding) or the taxes they will pay next April.
What's the difference? Not much. The check is good regardless of which pile of taxes it comes from.
You may also like
What does 'inc.' mean in a company name?
'Inc.' in a company name means the business is incorporated, but what does that entail, exactly? Here's everything you need to know about incorporating your business.
October 9, 2023 · 10min read
How to write a will: A comprehensive guide to will writing
Writing a will is one of the most important things you can do for yourself and for your loved ones, and it can be done in just minutes. Are you ready to get started?
April 25, 2024 · 11min read