Define Refundable tax credit. Refundable tax credit synonyms, Refundable tax credit pronunciation, Refundable tax credit translation, English dictionary definition of Refundable tax credit. n a social security benefit paid in the form of an additional in
必应词典为您提供Refundable-Tax-Credits的释义,网络释义: 可退税的顶税金;可退税税款抵减额;可退款减税;
Many tax credits are nonrefundable. These include the child and dependent care credit and many homeowners and mortgage tax credits. What does it mean if a tax credit is refundable? If a tax credit is refundable then the IRS can owe the taxpayer money above and beyond the amount that the ...
There are actuallytwo education tax credits, but the second one – theLifetime Learning Credit– isn’t refundable. That might be because it has somewhat more flexible rules. It covers graduate school, and students don't have to be enrolled at least half-time to qualify. They do have to ...
There are two types of tax credits available for taxpayers: refundable and nonrefundable. Both types offer you the chance to lower the amount of taxes you owe, but refundable credits can also get you a tax refund when you don't owe any tax.
That is, if a taxpayer otherwise owes $2,000 to the government, but takes $3,000 in refundable credits, then the government owes $1,000 to the taxpayer. Relatively few tax credits are refundable; most are limited to the amount of one's tax liability. However, the earned income tax ...
There are two types of tax credits: refundable and nonrefundable - learn what the difference is.What do tax credits do for you?For a breakdown of tax credits, see more details below. Did you know that eFile.com automatically checks for tax credits as you enter information? Start free and...
or if you don't expect a refund, you may be tempted to skip it. But if you do, you might miss out on some tax credits. You could even pay zero income tax and still get a check from the Internal Revenue Service.
The article reports on the increasing use of refundable tax credits in the U.S. as of October 2008. It states that these tax credits, which give tax cuts to people who currently pay no income taxes, are being supported by U.S. presidential candidates Barack Obama and John McCain. It ...
Refundable Tax Credits Refundable tax creditsare the most beneficial credit because they’re paid out in full. This means that a taxpayer (regardless of their income or tax liability) is entitled to the entire amount of the credit, beyond a zero amount of tax due. So, for example, if the...