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#1
02-03-2005, 11:15 AM
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tax refund and no taxable incomeWhat 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  |
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#2
02-03-2005, 04:20 PM
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If the law were otherwise, the government would be paying YOU for not making enough money during the year. |
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#3
02-03-2005, 10:31 PM
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| They already do that, it's called Earned Income Credit, but you get most benefit of it if you have two children. Snipes
__________________ This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post. |
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