Congressional Budget Office
Tax reduction
Treasury
Overpayments of tax are refundable by law. The rebates, as part of economic stimulus done the last year or so, are also officially an advanced refund of a tax overpayment. Again the stimulus package is a law, voted on and passed by Congress, and signed by the President. Not a policy.
Fiscal Policy
YesFiscal Policy
YesFiscal Policy
In 1932 under President Hoover, and in 1935 and 1937 under President Roosevelt, tax rates increased and the tax base expanded.
The first major bill he approved of was the "2001 Bush Tax Cuts [HR 1836]." This is the the famous tax cuts for the rich policy that is being debated now.
energy policy act~emmy~
The policy related to this statement is the federal income tax system in the United States, specifically the tax refund process. When individuals overpay their taxes throughout the year, either through withholding or estimated payments, they can file a federal income tax return to reconcile their tax liability. If their total tax payments exceed what they owe, they receive a refund from the government. This mechanism encourages compliance with tax laws and helps individuals manage their finances.
Since you paid it with after tax $$$ any money you receive would not be taxable, UNTIL it's more than what you paid into it. In that case, it might be better to take loans.
If you surrender a whole life insurance policy, you may have to claim the money on your income tax. The IRS states the amount you receive that is above the amount paid for premiums is considered taxable.