Question by Nick P : Do I need to owe taxes to get the Hope or Lifetime Learning Credit ?
I am hoping to claim the Hope Learning tax credit or Liftime this tax year as I have been paying tuition for my wife?s education. I read somewhere that you need to owe taxes to the IRS in order to get these credits. Does this mean that if my paycheck witholdings exceed my total tax bill (after applying these credits?), I will not receive the credit, or receive it only to the extent I owe?In that case, should I file a new W-4 and reduce my withholding? Best answer:
Answer by Judy
Yes you have to pay to receive an education tax credit, but that has nothing to do with Whether Or Not you have a refund coming. If they are going to keep any of your withholding, that is you are paying tax.
What do you think? Answer below!
tomb of the unknown soldier reo reo chilis philip rivers 11 11 11 meaning miracle berry
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.