ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Woman says the US tax system 'sounds like a scam' after being charged $480 in tax return

People are beginning to question whether the entire tax system is a hoax, particularly given the government's spending habits.
PUBLISHED SEP 2, 2024
Cover Image Source: Woman questions the US tax system | TikTok | kat71766
Cover Image Source: Woman questions the US tax system | TikTok | kat71766

It's surprising that taxes aren't part of the school curriculum, considering how crucial they are. Many young people grow up without understanding tax laws or how to file taxes. Recently, a TikToker found herself in a similar situation. She realized she owed $480 to the government because of a simple mistake on her tax return. This left her questioning: How was she supposed to know about this?

Image Source : kat71766 | TikTok
Image Source: kat71766 | TikTok

People are beginning to question whether the entire tax system is a hoax, particularly given the government's spending habits. This fear gained traction when a TikTok user named Kat ( @kat71766), who appears to be in her job attire, accused the Internal Revenue Service of chasing her for a few hundred dollars. "It's mind-boggling to consider this, especially given that the Pentagon couldn't track $2 trillion in assets last year. You'd think that losing trillions of dollars would be more significant than someone's grandmother saving a few thousand dollars in her retirement account or making a little extra money selling tie-dyed t-shirts on Etsy", asks the TikToker.

In her viral TikTok video, Kat expresses frustration with the tax system, saying, "My dad just called me and said that I owe $480 for my tax return because apparently if I just had $10 more dollars taken out of my check every single week then I wouldn't owe anything at all." She goes on to emphasize the unfairness of such a system, especially given the ongoing battle against inflation in the global economy.

Image Source: kat71766 | TikTok
Image Source: kat71766 | TikTok

"Wait, I owe money for working? I owe money for working because, yeah, and, also, Dad that sounds like a scam. Are you telling me that if only $10 more dollars every week came out I wouldn't owe the $480? How was I supposed to know that? First of all, how am I supposed to know that, second of all...how do I control that?" she asks, looking directly at the camera. Kat continues to question the economic practices in America: "And why is that a thing how do you tell your employer, oh take $10 more dollars out of my paycheck every week so that I don't owe money when my tax return is done? What? What? This is, this is strange." One commentator also expressed concerns about how this is never taught early on in school. 

Image Source: kat71766 | TikTok
Image Source: kat71766 | TikTok

Another user said how this is the worst thing ever even after paying taxes!

Image Source: kat71766 | TikTok
Image Source: kat71766 | TikTok

Many other users on the forum agreed with Kat's remark, with one emphasizing the ridiculousness of getting fined simply for working: "'I owe money for working', like seriously, I never thought about it like that!"


@kat71766 When was this a thing #fyp #taxes ♬ original sound - Kat

 

You can follow Kat (@kat71766) on TikTok for more content on living your 20s life.

You can also follow other finance experts online for tax-related tips. Recently, Erika Kullberg, an attorney and personal finance expert, underscored the importance of using tax refunds wisely. Kullberg advocates a two-step approach to maximizing the benefits of your tax refund. She recommends shoring up emergency savings. Once an adequate emergency fund is established, Kullberg advises turning attention to debt repayment. She also shared her personal experience of utilizing the debt avalanche method to eliminate over $200,000 in debt accumulated from law school. 

Follow kat71766 for more interesting content on TikTok.

Editor's note: This article was originally published on April 13, 2024. It has since been updated.

MORE ON MARKET REALIST
The contestant said she worked in hair loss prevention, which Harvey clearly knows nothing about.
5 hours ago
The guest who impulsively picked up the LeRoy Neiman painting had no idea of its significance.
6 hours ago
It was a heartwarming moment on the show, and even Steve Harvey had a big smile on his face.
7 hours ago
The contestant, Talia MacLean could barely hold her emotions after playing a perfect game.
8 hours ago
The guest wanted a six-figure sum for all three rings but Harrison did not even offer half of that.
9 hours ago
The contestant played a fantastic game despite falling behind in the early going.
10 hours ago
Herjavec was the only one who believed that he could make the business go big.
1 day ago
Steve Harvey had never heard of the team the contestant and sadi, and his reaction was priceless.
1 day ago
The contestant made the unusual choice because of a deal she had with a loved one.
2 days ago
The guest had received it from a cousin, who had bought it in Paris during World War II.
2 days ago
It was a fantastic solve for the contestant as the puzzle did not look easy.
2 days ago
Not only was the signature authentic, but also rare, as it was a full autograph on a personal document.
2 days ago
The guest wanted a lot less for the items and was happy to get a some extra cash.
3 days ago
Steve Harvey asked the contestant, Andrea, to demonstrate her answer, and that's exactly what she did.
3 days ago
The co-host revealed one of her hidden talents and fans were left impressed.
3 days ago
The entrepreneur might not have hoped to get so much money but he wasn't going to say no.
3 days ago
"He's got those American Idol dramatics ingrained in him," a fan pointed out on Reddit.
3 days ago
“We finally got our first $75,000 winner in the Ryan Seacrest era!!!” a fan praised.
4 days ago
It is a known fact that the first Barbie doll debuted in March 1959 during an annual toy fair in New York City.
4 days ago
The contestant also won the biggest prize ever in the show's history.
4 days ago