Coping With Tax Reform
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My 15-year-old granddaughter went to work this past summer to start saving money to buy herself a car. She is a good worker and has really been putting the money in the bank.
Now we come to income tax. Because she earned $552 for the year, we find she owes tax on a taxable income of $15.64. After the withholding tax has been deducted, she still owes $2 and will get a refund of $5.34 instead of $7.34.
Just how picky can the government get!
As we all know, many people get away without paying taxes but here is a young person who will be paying into the system for many years and she is charged a tax on $15. It makes one wonder about the new tax laws, especially for the low-income worker.
SARAH SCHRAM
Montrose
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