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MARKETANALYST.US / ECONOMY & WORK

Woman Questions the US Tax System 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 APR 13, 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!"

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.

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