Income tax returns

[obofthehumcon]

My mom recently had her taxes done and she said to me that the accountant that did hers told her that The government does not send back lump sum income tax returns but sends it back in monthly installments over a 12 month period...Has anyone ever heard anything like this? I think she may have misunderstood.

[growler]

i've never been told that but they used to ask me if i would make either 1/4 ly or monthly payments to them rather than to do it yearly..
they wouldn't credit me any interest (give me) for doing it so i said no,and put the $ in the bank as then i'd make a dollar three eighty in interest or close to that much !

[jk]

My mom recently had her taxes done and she said to me that the accountant that did hers told her that The government does not send back lump sum income tax returns but sends it back in monthly installments over a 12 month period...Has anyone ever heard anything like this? I think she may have misunderstood.

My parent was told the same thing this year, something new, I first thought they misunderstood as well, but have heard it from a few others. Wondering if it's same for everyone, haven't read anything about it from any news source...

[kishgo]

So does that mean I won't get my $14.53 all at once? Gee, I already had it spent!

[observer]

I could be wrong, but I thought that had to do with HST credits or something. The feeling was if the payment didn't arrive in a lump, then the recipients would be less inclined to go and spend it all at one time in some foolish manner! (Such as paying off bills, I guess!)

[kishgo]

That would make sense Observer. It was done that way in the past. I believe too your family income had to be below a certain amount.

[Spidubic]

So if the government owes you money they get to collect the interest on it instead of you? Nice. And if you are slated to get say $120 back are they going to send you a check every month for $10?

[Spidubic]

Found this:

Income tax changes eliminate refunds for many Ontario Residents

[observer]

So, the best I can understand, this doesn't mean that you won't get the refund for having overpaid income tax through payroll deductions, etc., throughout the year?

Or - maybe it's those Ontario tax credits that decrease the total amount owing - which is why there's been more deducted through the year than there needed to be - and therefor the refund will be lower?

I suppose this makes it obvious that I don't do my own taxes either!!!

[Spidubic]

Personally I feel the government has not made this change obvious enough. A lot of people are going to be pissed who were expecting a lump sum.

[albert1]

I got mine back in a week all in a lump sum

[kishgo]

I have HOPE! Thanks Albert!

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