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Turbo tax provides a federal tax refund by determing how much money you pay from your bills and mortgage and turning it into extra money that you can use in the near future.

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12y ago

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If EIC earned income credit is more than refund can student loans take your taxes Bankruptcy and other agencies cannot take your tax refund when eic is greater in amount than that of the refund?

Any federal or state agencies (including student loan and child support) have the right to take any amount due from your refund. It has nothing to do with EIC and they have the right to take the whole refund you are due if you are in default or have a judgment against you.


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Can medical bills be taken from federal tax refund?

It is unlikely that a tax refund would be garnished for past due medical bills. Generally refunds can only be garnished for certain things, and medical bills really aren't one. Tax refunds are garnished in instances of: child support arrearages past due federal tax past due state income tax unpaid federal student loans government program repayments However, if you deposit it into an account that they have the right to garnish, the funds lose their identity as a tax refund.


When does the government start issuing tax refund checks?

The IRS will not accept live e-filed returns until January 17, 2012. So with Direct Deposit you could see a federal refund as quickly as the 24th if all the planets are aligned just right.


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Can a creditor put a lien on my federal income tax refund?

A creditor can put a lien on federal income tax refunds and usually will when the debt is that of a student loan or child support. Other creditors can if the right paperwork is filed within a specified time frame to the IRS.


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With tax time coming up once again, people are scrambling to find a quick way to get their taxes done and over with. Most of these people will turn to a tax software to calculate their tax refund or payment amounts, but there are a lot of options. If you want to find the right 2012 tax cut software for you, one of the best resources you have at your disposal is the IRS website.


What can you do if you purchased a vehicle and found that the odometer readings have discrepancies?

You may have a legal right to a refund. Contact you State Attorney General for advice.You may have a legal right to a refund. Contact you State Attorney General for advice.


Does The Government Provide Tax Software?

Since the government wants to get the right amount of tax money each year, you would think that they would provide software that could help with the process. Unfortunately, that is not the case. You cannot find free Canadian tax software that is provided to all citizens in this fashion. However, there are many companies that provide this type of software, so you can still get it even though the government has not provided it.


What is the accounting treatment for a refund to customer?

Is it right that I debit the refund to [Sales returns] and credit it to [Cash at bank]? But the answer given by my teacher is that the refund is debited to [Trade receivables] and credited to [Cash at bank].


Why don't they ask you enough questions up front in a tax software to better estimate your tax refund?

I personally have never used the tax software. My husband does our taxes through H and R Block's website. He is usually right on the ball compared to going to the office and having to pay to get them done.