Can you only get the education credits if you owe money on your taxes?
Answers: Correct. If you don't have any tax liability, then a credit doesn't give you any benefit - it can only reduce your tax, so if yours is already zero, it doesn't help.
What the first two answerers meant is you can only claim the credit if you tax is greater than zero and that (unlike the EIC) it does not allow you to receive a refund of more than you paid in taxes. If the amount withheld is more than your taxes, and the amount of your taxes is more than zero, then the credit can increse the portion of the withholding that is refunded.
Advice on taxes?
yes like to know who is the cheapest on file taxes. i want to file taxes and receive them in one hour. i do not want to hang around 2 months for my taxes to get pay for. my father usually does them it takes 2 months to procure money back.is H&R block cheap or is someone else is. i want my taxes quicker. permit me know asap thanks. also i approaching to know can u claim taxes on your grocery reciepts everytime u go shopping. if u can , do u win money back from them if u liberate them? if u save up to a year . very well if u go to goodwill store and u bring something in that do u get money wager on from that also. if u save the receipts. asapAnswers: If your in step gross income was $54,000 or smaller amount in 2007, you can use Free File to prepare and e-file your taxes online.
http://www.irs.gov/efile/article/0,,id=1...
Well the quickest and the most accurate instrument and of course the Cheapest path to file your taxes in our time is to file it online.
See this site for information on online rates filing
http://www.qcktax.com
Some export tax services offer a loan on your reimbursement, it is pretty expensive when you consider that you pay seriously in interest charges. Best is to wallet online with efile and lurk a bit or so for your refund check. This is much much faster than doing a weekly filing.
Try file them online with the IRS. They allow that for lower income populace. Any software like TurboTax allows you to report online. The IRS puts the money in your mound account contained by about 10 business days. Sounds resembling your dad is still using the old forms and post system with a treatise check. That has be obsolete for abundant years.
What export tax year determines eligibility for rebate checks?
Due to a severe illness no taxes be filed or income be made in 2006 so no tax return be filed finishing year. For 2007 I got better and returned to work will I still achieve a rebate check or did we have to enjoy filed a return contained by 2007 for 2006.Answers: Your rebate depends only on your 2007 income and taxes salaried.
Under the compromise bill passed by the Congress, you would be eligible to receive a rebate of up to $600 if you paid that much surrounded by Federal Income Tax. If you only rewarded $350 in taxes (less than the $600 rebate limit), you just get put a bet on $350. If you had earn income of at least $3000, you would bring at least the minimum rebate of $300.
While the rebate depends on your 2007 income, it is certainly a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to nil percent on the first $6,000 dollars of taxable income for individual taxpayers.
It's like a one time tariff cut for 2008, but you get the rebate immediately instead of waiting to file your 2008 taxes. Because this is an credit payment on your 2008 taxes, your discount next year could be more (or smaller quantity!) depending on your 2008 income.
From what I have be reading in the daily, and assuming that I understood what I read correctly, surrounded by order to qualify for the rebate, you must folder a 2007 tax return by April 15th of this year.