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tax refund and no taxable income

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Gerula 56

Junior Member
What is the name of your state? WA

2004 income was reduced comparing to 2003, however I had the same deductions (standard, motgage interest, business losses). My accountant told me that after the deductions I had zero taxable income but I cannot get as a refund a larger amount that I paid already in taxes. Is this true?
In other words, I paid $6000 in taxes but if I list all the deductions the refund would be a lot higher. He says that I cannot get more than $6000.

Thank you :confused:
 


Snipes5

Senior Member
They already do that, it's called Earned Income Credit, but you get most benefit of it if you have two children.

Snipes
 

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