I apologize for my obviousl ignorance regarding tax terminology and taxes in general, but I have a question.
When someone says that I get a $2100 "tax credit" this year for purchasing a 2006 HCHII, does that mean that I can anticipate that my usual tax refund ($500-ish) will simply be increased by $2100, making my hypothetical refund $2600-ish?
Thanks for any clarification. I feel silly for not understanding something as straightforward and simple as the federal tax rules and regulations set forth by the IRS!
