The Federal Tax Credits Blog

Posts Tagged ‘credit refund’

Question: OMG! i forgot to file an addition child tax credit for my dependent i all ready got my refund WHAT NOW?

CAN I AMEND OR DO ANYTHING ABOUT THIS? I GOT MY REFUND DD ALREADY I AM NEW TO DOING TAXES MY SELF SECOND YEAR….EXP.

Answer: Yes, you can file an amended return. It is Form 1040-X. You complete the form and MAIL it in. Amended returns are generally processed after the filing season, so don’t hold your breath. They do get processed however, so you will eventually receive the extra.

10 expenses to cut to help pay off credit card debt

In hard times, take a hard look at what’s coming in, what’s going out and see where you can free up some cash quickly to start hacking away at your debt

New Tax Deductions for 2010, 2011

Question: how does the tax credit refund work?

me and my hubby pay in at least 1300 every yr for taxes. we make around 50,000 a yr. taxes are taken out of his checks but not mine
we have two children. do we qaulify?

Answer: If you’re referring to the Earned Income Tax Credit, see the link I am including. It discusses this: Find out if you are eligible for the Earned Income Tax Credit (EITC) by answering some questions and providing basic income information using the EITC Assistant. Available in English and Spanish. The 2007 EITC Assistant is now available.

Good luck!

Homebuyer tax credit: 950,000 must repay

Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government.

Atlanta Home Buyers – $8000 Tax Credit Refund

Question: 2009 Tax refund questions?

Ok, got a few quick questions on what I can claim as deductions on my tax return. I just bought an old house recently and I amended for the First Time Home-Buyers Tax Credit. I bought some energy star appliances, but i noticed that they aren’t considering any energy star kitchen appliances in the Home Energy Efficient Tax Credit. I was wondering If I am missing something? Also Im trying to understand this “Making Work Pay Tax Credit” from what I understand if you make less than $75K single and $150K married you receive up to $400? . Will this be automatically put in the return? I’m also curious about filing gas expense to work…is there any way to claim this even though I haven’t kept the receipts from gas purchases?Also I was wondering about a tax credit that encouraged investment into a retirment savings account. I plan on using the free version of tubo tax is this a good choice with all the deductions I will be trying for?

Answer: The appliances won’t qualify for a credit. The making work pay credit will reduce your tax by up to $400 if you qualify for it, but you probably already got the money due to decreased withholding since last spring. It isn’t applied to your return automatically, you have to fill out schedule M. Expenses for getting to work and back are called commuting expenses and are never deductible, so having receipts wouldn’t mean anything. The retirement tax credit has income limits.

The free verson of TT would do the making work pay credit. Don’t know about the retirement credit. Those are the only two you mention.

Taxpayers to lose out on an estimated €420m

IT is estimated that up to €420 million is going unclaimed by taxpayers each year.

Making Work Pay Tax Credit 2009