Tax Credit for 05 FEH
#21
Re: Tax Credit for 05 FEH
Originally Posted by timcob
Great news - Assuming that you dont live in a high tax state and pay AMT.
#22
Re: Tax Credit for 05 FEH
Well, thank God that it really did happen.....I was just about at the point of never showing my face around this web site again...I am thankful that Ford was telling the truth and not leading us all on...I also kept checking the IRS website and ....nothing until now! Now if someone could just tell me if it is going to be part of my refund or not.....My mom, who bought a Prius in January, keeps telling me it will be added to your refund check...anyone else with a different picture?
#23
Re: Tax Credit for 05 FEH
The credit gets added to your withholding from your paycheck. That all gets applied toward the income taxes you owe.
If there isn't enough money to pay off your income taxes, you will have to write a check to the IRS. If there was too much money, then the IRS will write you a refund check.
If there isn't enough money to pay off your income taxes, you will have to write a check to the IRS. If there was too much money, then the IRS will write you a refund check.
#24
Re: Tax Credit for 05 FEH
Originally Posted by WaltPA
The credit gets added to your withholding from your paycheck. That all gets applied toward the income taxes you owe.
If there isn't enough money to pay off your income taxes, you will have to write a check to the IRS. If there was too much money, then the IRS will write you a refund check.
If there isn't enough money to pay off your income taxes, you will have to write a check to the IRS. If there was too much money, then the IRS will write you a refund check.
Taxpayer #1
Gross Pay: 60,000
Tax liability: 6,000
Credit: 2,600
Withholding: 6,000
Refund: 2,600
Taxpayer #2
Gross Pay: 20,000
Tax liability: 1,000
Credit: 2,600
Withholding: 500
Refund: 500
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