Refundable Credit A direct, dollar-for-dollar reduction of one'stax liabilityin which one still receives atax refundeven if one's liability drops below zero. That is, if ataxpayerotherwise owes $2,000 to the government, but takes $3,000 in refundable credits, then the government owes $1,...
Refundable tax credits not only reduce your tax bill on a dollar-for-dollar basis, but they can also generate a tax refund if the tax you owe before applying any credits is less than the credit amount (unlike nonrefundable credits, which can only reduce your tax bill to ...
tax creditsself-employment incomereturn preparersThis paper looks at the American experience in using tax law to deliver benefits to low and moderate-wage workers. First examining two recent cases in which indBook, LeslieSocial Science Electronic Publishing...
refundable tax credit—no matter how large or small the credit is—and will be refunded the full balance of money credited. It thus makes sense for a taxpayer to calculate all their taxes already paid, deductions, and nonrefundable credits, and then calculate and apply any refundable credits....
Sofar,Obama'sstimuluspackage doesnotincluderefundablecredits,thoughtheycouldbeincludedinlaterlegislation. 迄今为止,Obama的刺激预案不包括可偿还的税收优惠,虽然他们可能在以后的立法中通过。 article.yeeyan.org 7. Toflyforlessmoney,youcanbuynon-refundableplaneticketstwo or three monthsbeforeyourtrip. ...
Twitter Google Share on Facebook refundable Thesaurus Legal Financial Idioms Encyclopedia Related to refundable:Refundable Tax Credits re·fund (rĭ-fŭnd′, rē′fŭnd′) v.re·fund·ed,re·fund·ing,re·funds v.tr. To give back, especially money; return or repay:refunded the purchase pri...
Refundable Credits vs. Nonrefundable Credits A tax credit can be either refundable or nonrefundable. A refundable tax credit usually results in arefundcheck if the tax credit is more than the individual’s total tax liability. For example, a taxpayer who applies a $3,400 refundable tax credit...
Learn the refundable tax credit definition and understand how it works. Study examples of refundable tax credits and compare the non-refundable tax...
Twitter Google Share on Facebook (redirected fromrefundable) Dictionary Legal Financial Idioms Encyclopedia Related to refundable:Refundable Tax Credits </>embed</> give back reimburse pay back make good restore return repay repay return reimbursement ...