The Federal Tax Credits Blog

Question: Is it possible for a greater tax refund (due to credits) then the amount that was actually taken?

By taking the following credits:

Credit for Child Care Expense
child tax credit
Earned Income Credit
Additional child tax credit

while claiming Head of Household, I am calculating a refund greater then what was taken out of my paycheck last year. Is this possible??? Everything mentioned above are valid credits that I am entitled to.

Answer: With the earned income credit you can get back more than you paid. There is even a form you can fill out that will let you get it added to each paycheck.

Super-rich have seen their tax liability tumble

The super rich pay a lot less taxes than they did a couple of decades ago, and nearly half of U.S. households pay no income taxes at all.

Tax Tip for 2010 #5 of 20

Legals May 18, 2011

NOTICE OF TRUSTEE’S SALE: The following described property will be sold at public auction to the highest bidder, payable in lawful money of the United States, in the Veteran’s Plaza outside the north entrance of the administrative building, 451 Government Way, Coeur d’Alene, ID, 83814, on 08/15/2011 at 10:00 AM, (recognized local time) for the purpose of foreclosing that certain Deed of Trust …

Gasoline and Fuel Economy: Auto Industry at a Crossroads

Question: Stimulus rebate?

I have two daughter one is 18 will I get credited the $300 for her also or will she be considered an individual and get it on her own, aand yes i do claim her on my taxes?Is there an age limit on the child whether or not they will be counted.

Answer: For rebate purposes, a qualifying child is one who is younger than 17. That means that taxpayers who claim an older college student as a dependent won’t get the extra money.

Also, if your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan.

While the rebate depends on your 2007 status and income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.

So if you have taxable income in 2008, you will see a tax cut when you file in 2009.

NEW LAWS TAKE EFFECT JAN. 1 2011

Nearly 200 new laws are scheduled to go into effect Jan. 1, 2011, among them pension reforms for most new public employees, limits on campaign contributions, joint nomination of candidates for the offices of Governor and Lieutenant Governor in primary elections, and changes to laws regarding the use of red-light cameras, according to State Sen. Tim Bivins (R-Dixon).

The Childhood Obesity Epidemic

Question: Do you think the Nissan Leaf will help America step forward?

So we can stop importing gas, and spending a shit load of money to OPEC.

100 miles per charge, charge costs $3 bucks….I think that would significantly not only help America but the environment…and it’s coming out this year and will cost about 30,000 bucks, but after tax credits maybe around 20,000.

And it’s coming in America this August…mass produced…the first mass produced purely electric car.

http://en.wikipedia.org/wiki/Nissan_Leaf

The chevy volt costs more and only goes 40 miles.

Lawl.

Answer: The Chevrolet version will help America a lot more.

Pain at the pump as gas prices soar in parts of Canada

Some drivers are paying more than ever to fill up their vehicles today, after steep hikes sent the price soaring in parts of the country overnight.

Ford’s from 1915 to 2009

Question: Why do so many always complain about people on welfare when the amount of money that goes to them?

is trivial at best?

According to The Budget for Fiscal Year 2008, Historical Tables, total outlays for Means Tested Entitlements in 2006 were $354.3 billion. This was 2.7% of GDP and

Includes Medicaid, food stamps, family support assistance (AFDC), supplemental security income

(SSI), child nutrition programs, refundable portions of earned income tax credits (EITC and HITC) and child tax credit, welfare contingency fund, child care entitlement to States, temporary assistance to needy families, foster care and adoption assistance, State children’s health insurance and veterans pensions.

http://polecolaw.newsvine.com/_news/2008/01/08/1212663-how-much-does-welfare-cost

Answer: Because they are brainwashed into thinking these programs are far more than 2.7% of taxes paid and they are also not compassionate human beings.

Cinch Energy Corp. Releases Q1 2011 Results

CALGARY, ALBERTA–(Marketwire – May 10, 2011) -

Dr. Steven Pitts: Too Many Jobs Don’t Pay Livable Wages