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Can you receive a tax refund greater than what you have paid in?
Wiki User
∙ 15y ago
There are several "refundable" tax credits that can result in a refund greater than what you paid in. The most common are the Additional Child Tax Credit and the Earned Income Credit (EIC). There are also more obscure credits such as the credit for repayments of previous years' taxable income.
Wiki User
∙ 15y ago
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Is it possible to receive more money in a return than you paid in?
If you are asking about a Federal Income Tax return---Yes, you can receive a larger refund than what you paid in. If your income is low and you have children, you may be eligible for Earned Income Credit and Child Tax Credit, along with several others. These will sometimes enlarge your refund to more than you paid.
What if tax due is larger than tax withheld?
If your tax witheld is larger than the tax due, you receive a refund
If you made less than 4000 and no federal income tax was taken out and you have 1 dependent will you receive a refund?
yes
Will you get a return if you owe the IRS?
You will file a return. You will not get a refund (which is a refund of your overpayment) if you owe more than you have paid in through withholding and such - which is waht your payment is for - to make up for what you should have pre-paid. Depending on the amount of the underpayment and other factors, it is possible you will also owe a penalty and interest on that underpayment.
Can IRS take your refund even if you are paying them monthly with voluntary payroll deduction?
If your payment is for a balance owed to the IRS then yes, they will take any money due to you from a refund and apply it to your balance. Should your balance due be less than what you owe them you should receive a refund for what's left.
Is it possible to receive more money in a return than you paid in?
If you are asking about a Federal Income Tax return---Yes, you can receive a larger refund than what you paid in. If your income is low and you have children, you may be eligible for Earned Income Credit and Child Tax Credit, along with several others. These will sometimes enlarge your refund to more than you paid.
What if tax withheld is larger than the tax due?
If your tax witheld is larger than the tax due, you receive a refund
Can you get a tax refund if you receive social security benefits?
Yes, if you have paid taxes, or had taxes withheld for that tax year, you may be entitled to a refund. If you have not paid taxes for the year in question, you will not receive a refund.
What if you child support is less than your IRS tax refund then will i receive what is left on refund?
The IRS will only take what is owed. You will receive a letter from the IRS stating that your refund will be reduced and the agency to whom the obligation is owed and a number to contact the agency. You will then receive a check/direct deposit for the remaining amount.
What if tax due is larger than tax withheld?
If your tax witheld is larger than the tax due, you receive a refund
When will Minnesota rent rebates checks be mailed out?
If you have your refund automically deposited than you should receive your refund in your bank account the first week in August. All others should receive their the third week in August.
When you file your taxes, you will receive a ________ if more money was withheld from your paycheck than you needed to pay in taxes?
Refund
Who should get a refund after someone's death?
What type of refund are you looking for. If you or the person bought an item that you no longer need or is broken you can get a refund that way, within reason of course. You cant and shouldn't look for a refund from any used medical items or gifts that were given to this person. If your talking about having paid for someone's funeral and you were not given the items that you paid for or the service was poor and you can prove it, then you may be entitled to a refund but have your info ready. Other than that I don't know what refund you are seeking.
If you made less than 4000 and no federal income tax was taken out and you have 1 dependent will you receive a refund?
yes
How long do you have to cancel a car lease I signed a lease and within 24 hours the price was advertised 50mo. less than I paid.?
Not sure where you're from, but in the UK you usually have between 7-14 days 'cooling off' period, during which you can change your mind and receive either a full refund, or a refund less the administration charge.
Does the brain receive a greater percentage of alcohol than the other organs?
no
When you pay more than you owe in taxes and the IRS gives you money backwhat is that money called?
A tax refund or tax rebate is a refund on taxes. When your tax liability (the amount of tax you owe) is less than the amount of taxes paid or taken out of your paycheck, the IRS will give you a tax refund once your return is filed.
