What is the Hope Credit?If you rec. financial aid and compensated no costs for college?
Any breaks for full time students??Answers: If your income is less than 8,750 for single (17,500 for married file jointly) then at hand is no need to directory. If your still in college and you do not engineer enough to directory or your own your parents can calim you and they can get the Hope credit.
Any expenses for college that you compensated can be expensed, your meals, fuel, and room and board, books.
Hope credit. Beginning within 2008, the amount of the Hope credit (per eligible student) is the sum of:
100% of the first $1,200 of qualified education expenses you compensated for the eligible student, and
50% of the next $1,200 of qualified rearing expenses you paid for that student.
The maximum amount of Hope credit you can claim within 2008 is $1,800 per student
I work in a CPA bureau, and I can get this information terribly easy, I hope this have helped you!
If you file your own taxes, and your parents file you on there taxes do u qualify for the tax rebate check?
Answers: If you are claimed as a dependent, your parents will be eligible for the additional $300 rebate for you as a dependent child.
For your rebate, it depends on how much taxable income you had in 2007. If you had sufficient income to pay Federal Income Tax, you may be eligible for a rebate.
Currently, it appears you would be eligible to receive a rebate of up to $600 if you paid that much in Federal Income Tax. If you only paid $350 in taxes (less than the $600 rebate limit), you only get back $350. If you earned $3000, then you would be eligible for the $300 minimum.
While the rebate depends on your 2007 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.
It's like a one time tax cut for 2008, but you get the rebate now instead of waiting to file your 2008 taxes.
Because this is an advance payment on your 2008 taxes, your refund next year could be more (or less!) depending on your 2008 income.
Nothing has passed Congress yet, so all details are subject to change. Check out the referenced sites below for more info.
First on the IRS site it said that they needed to request information from me past I grasp my discount..?
Now there is a message wise saying this:We are sorry, we cannot provide any information about your discount.
It can take up to 3 weeks to process your return. Please lurk at least one week back you log-on again to check the status of your refund.
Has anyone else be getting funny error messages today from the IRS site?
Answers: Just hasnt been processed all the same, thats all.
i did a few years ago... my mark is hyphenated and i did not use my legal pet name on accident... it took months to clear it up... so, it could be as simple as them not anyone able to verify some information on your return... you should christen the IRS directly... i didn't and kept waiting which is why i think mine took so long... 1-8OO-829-1040