tax cuts

[Max Sawicky]

Thanks for the clarification.  But does that mean that,come April when I do 
my form and have $600 coming back to me, that none of it will come back 
because I already got it now (this August?)
les

That's exactly what it means, keeping in
mind that 'coming back to me' means an
offset to your tax liability.  In other
words, suppose under old law you would
owe $1,000 next April.  Under new law,
you only owe $400, but since Uncle George
gives you $600 now, in April you pay
$1,000.  Your net obligation is still
the same -- $400.  You've gotten an
interest-free loan on next year's tax
cut.  Have a happy.

mbs