Tussling With The Taxman About Money You’re Owed Rather Than Money You Owe

Whether you’re a business owner or a worker in America, the chances are that you know a thing or two about the importance of doing your taxes. Tax time is stressful for everyone, and with good reason. Failure to get your return in on time could see you facing fines. Even if you do get it in before the deadline, failure to state the correct earnings could see you facing fines or even prison time. You could say, then, that your life depends upon your being honest with the taxman. If you don’t tell him everything, your life will fall into his hands.

Of course, most of us consider that reasonable enough. We need to pay our taxes to enjoy state-funded benefits like safe streets and libraries. But, the importance of honesty here doesn’t seem half as fair when you consider that the favor is rarely returned. The fact is that this money business goes two ways. Sometimes, there will be instances when the government owes you money instead of the other way around. Sadly, they don’t always come clean by a specific date the way we have to. What’s worse, they don’t go to prison for this shocking behavior. Instead, we’re left out of pocket without ever knowing a thing about it.

If that sounds unfair to you, then you aren’t alone. It seems like a gross case of double standards, doesn’t it? Be that as it may, realizing that this issue exists is half the battle towards overcoming it. Once you know the council could be withholding money from you, you can take action to make sure you get what you’re owed. Of course, before you can do that, you need to know where issues can arise. So, keep reading to find out.

Rebates

One of the most common instances of a council owing you money will be a tax rebate. This can happen for various reasons. It may be that you accidentally overshot when declaring your income. Or, the taxman may have gotten overzealous when deducting those taxes. Either way, you should get that money back. The only issue is, you may never know you need to. What’s worse, you only have a three-year window to file for something like this. The first thing to note, then, is that you should pay close attention to your self-assessment. If your taxes seem extreme, it may be worth looking into. If in doubt, there are plenty of online checkers which can let you know what you’re owed. At the very least, phoning your local tax service with your taxpayer reference to hand should sweep any rebates from under the carpet. If you’ve been paying the wrong amount for a while, you could be looking at serious returns here.

 

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Compensation

It’s also possible that your government owe you compensation. This is especially likely if you’re a civilian worker. When you’re working on behalf of the American government, in any form, you’re eligible for compensation after an injury. This is thanks to a little something called the Defense Base Act. Sadly, though, gaining this compensation isn’t always as easy as you may think. Many of us don’t realize that it’s an option. Even if you do believe you’re eligible for something like this, you may have a fight on your hands to get it. You may find that the council will do anything not to give you this money, including hiring lawyers. In that instance, you shouldn’t hesitate to contact attorneys like those with Turley Law Firm to fight your side for you. That money is your right; don’t let anyone tell you otherwise.

 

Pension

Last but not least, let’s jump forward a few years. Pensions are essential for our later years, and most employers now offer them as standard. Sadly, we don’t always get the money we’re owed when it comes time. This can happen for various reasons, namely that the company goes out of business or shuts down in the interim. It’s all too easy, then, for your money to disappear with them. But, you have a right to what you’ve paid, and your government has to honor that. Lucky for you, there are ways to search for a lost pension plan like this and claim it back. Whatever you do, don’t roll over with bad news like this. There are protections in place for your money if you know where to look for them. Like the taxman, you shouldn’t accept anything less than what you know you’re owed.

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