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Am I still allowed the total amount of the tax credit If I have tax credits totaling more than the taxes I owe?
Wiki User
∙ 14y ago
If you claim a tax credit that exceeds the tax owed, you can receive a refund for the excess credit if is a refundable credit:
A refundable tax credit allows taxpayers to lower their tax liability to zero and receive a refund for the portion of the credit remaining.
A nonrefundable tax credit allows taxpayers to lower their tax liability to zero, but not below zero. Any excess credit remaining is lost.
The attached link discusses some refundable and nonrefundable credits. Once you get to the IRS website, type the specific credit you are curious about in the Search box to find out if it refundable or eligible for carryover.
Wiki User
∙ 14y ago
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The maximum amount of credit you are allowed by a creditor is called?
line of credit
The maximum amount of credit you are allowed by a creditor is called an?
line of credit
What is a credit on credit card?
A credit on a credit card is the amount of money you are allowed to spend before you have to pay it back
What is meant by a credit limit?
Credit limit is the largest amount of money a consumer can charge on a credit card. The amount equals the amount of credit extended to a consumer. Charges over this amount are usually allowed, but expect to pay an "over-the-limit" fee.
What are tax deductions and credits?
A deduction reduces the amount of income that is subject to tax, and a credit represents a direct reduction in the amount of tax liability
Does an account payable ledger record credits or debits?
Accounts payable is created when goods purchased on credit so it records the credits that is how much amount payable to creditors.
Theory of debit and credit?
The Debit Credit Theory states that all Debits must be equal to all Credits. (aka when you debit something, you have to credit the same amount, to make it balance)
What is the least amount of credits you can take for one semester and stay enrolled?
If financial aid is not a concern, or there is not an issue that requires you to be full-time or taking a certain amount of credits or courses, then taking just one credit would do it.
How much is the credit in Habbo?
For further information about this please log into habbo using your password and username, then click on "Credits", scroll down, click on one of the methods to pay (I prefer debit) tehn it will list the amount that will be charged, and the amount of credits you will receive after you purchase them. - MOD_Maxson ------------------------------- WikiAnswers SPA Press Trust Contributor If I Helped! :D
Why do you have credits on Howrse?
The amount in your credit is increased by 5 equus for every day of connection. It is for when you run out of money(equus). You can credit your account, in other words, purchase 1 pass (with real life money) and you get the amount of money that is in your credit in exchange for the pass.
Where do you go to get 3billion credits in halo?
you CANNOT get 3 billion credits on Halo Reach. People who you see on youtube getting 3 billion credits in Reach are modders because there is a "credit cap" so that you cant go over a certain amount of credits.
When you get bear credits do you get 10000 and if its 5 credit is that 5000 on build a bear ville?
Credits can be used to buy outfits at the main store in the town center. 1 credit is worth 1,000 bearbills technically. so if u multiply the number of credits by 1,000 u would get the correct amount that it is worth.
