Tuesday, August 24, 2010

How much is the average refund for a married couple with a 60,000 income?

Filing joint, what is the average refund for 60,000.How much is the average refund for a married couple with a 60,000 income?
You may want to try this Free Tax tool out!





I hope this info helps!How much is the average refund for a married couple with a 60,000 income?
Any ';average'; would be totally meaningless. What YOU will get, if anything, depends on a number of things about your personal situation. Any kids? or other dependents? Do you have enough deductions to itemize? Any credits you qualify for? How much did you have withheld?





I'm not sure you understand just what a refund is. Through the year you might have money withheld from your paycheck for federal income tax. At the end of the year, you prepare a form called a tax return to calculate how much tax you owe total for the year, and compare that to what was withheld. If you had more withheld than your total tax, you get the extra back as a refund. If you didn't have enough withheld, you have to pay the rest rather than getting a refund.
In the case of a tax return, the average is not a good predictor of your return. Returns depend on many things, such as deductibles, how many you claimed on your W-4 and how much was withheld by the employer(s). Not to mention that the IRS does not release that type of info. All they release is the average return for the entire population.
Depends on how much you had withheld and how many children you claim.





My experience is that a couple making $60k with no kids usually pays in every year.





You are one of the ';rich'; that need to be taxed, didn't you know that?
There is no average refund that would be meaningful to your tax situation. Every taxpayer's tax return is unique.

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