It is money people lend the government with no interest. In the US we have a federal income tax that is collected with payroll withholding by your employer. People declare less deductions than they are allowed and thus their tax is over paid. When they file their tax returns at the beginning of the next year, they get that overpayment back.
Dumb people think of it as some kind of bonus. Slightly less dumb people think of it as enforced savings. Smart people arrange things so instead they owe the government some money that they have carefully left in an interest bearing account until they have no choice but to pay out to the IRS (Internal Revenue Service, the tax collecting agency of the US Government), thus collecting interest on the government's money rather than lending their money to the them at no interest. -graywolf David Savage wrote: > > What are tax returns? -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net
