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I wish that I was only getting $750 back. In fact, I wish that I owed $750. I always feel like I have massively failed if my tax refund or payment is more than $500 or so. That means that either I am cheating myself of a good deal of money every month, or underpaying by a good amount. Really, I'd rather underpay and owe the tax at the end of the year. At least I'll have had the use of that money throughout the year.
I know that the IRS will set a penalty against you if you underpay by a certain amount, but I'm not clear on what level of underpayment you have to reach to trigger penalties. Oddly enough, there is no 'penalty' assessed if you overpay by any amount... even if the amount was quite large. Like it was in my case... embarrassingly large, dinosauric really. Yeah, my so-called refund is enough to buy a brand new Hyundai Accent... not that I need or want a really crappy new car.
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