Sentences with phrase «refundable tax credit»

It's a refundable tax credit, so you'll receive it even if you do not owe any income taxes.

The Ways and Means committee was not fooled by the refundable tax credit jargon and has passed a grant program to be administered by the Department of Energy.

For home owners you can allow it optionally as a deduction for all tax payers and perhaps to address the fact that lower income people seldom itemize deductions for an equivalent refundable tax credit on a system for a modest home.

A behavior - changing carbon price (a tax or fee) of perhaps $ 150 - 200 per metric tonne CO2 - equivalent emissions (with or without a refundable tax credit, sometimes called a dividend to blunt its regressivity) would require sacrifice differentially among economic sectors and groups, as well the need to change comfortable habits and ways of life.

For example, if you calculate a $ 2,000 American Opportunity credit, a maximum of $ 800 may be reported as a refundable tax credit with the remaining $ 1,200 reported as a nonrefundable credit.

MCC Programs provide a refundable tax credit of up to $ 2,000 for the life of the mortgage loan.

The Affordable Care Act Premium Tax Credit is a new refundable tax credit that can lower your monthly health insurance premiums.

«But by going back to work she would qualify for the Working Income Tax Benefit (a refundable tax credit), as long as she earns $ 3,000 or more each year.

The AOTC is a partially refundable tax credit, which means if it reduces your tax liability to zero, you can have 40 percent of any remaining amount of the credit, up to $ 1,000 refunded to you.

You can benefit from a refundable tax credit even if you have no tax liability and no withholding.

What about the Quebec Gov» t grant: (From Morningstar) «More recently, for residents of Quebec, a refundable tax credit known as the Quebec Education Savings Grant was introduced in 2007 as a complement to the CESG.

The Earned Income Tax Credit (EITC), is a refundable tax credit aimed at helping families with low to moderate earned income.

This is not a refundable tax credit, so you do not get a check in the mail if the tax credit is higher than what you owe the government.

Even if they are not required to file, they may want to file a return in order to claim a refundable tax credit (i.e. American Opportunity Credit).

The Additional Child Tax Credit is a refundable tax credit that many people qualify to take advantage of.

-- Expanding the refundable tax credit known as the federal working income tax benefit, to help low - income Canadians offset the increase in premiums.

An example of a refundable tax credit is the earned income tax credit.

Another refundable tax credit is the Health Coverage Tax Credit (HCTC).

It is available to teachers and early educators, for out - of - pocket costs for your classroom supplies and it is a refundable tax credit, so don't miss it.

Those usually align with a refundable tax credit on your return (EITC or ACTC).

For instance, in March of 2016, the federal budget announcement included a new refundable tax credit calculated at 15 % of up to $ 1,000 in eligible expenses per year, for supplies bought by an eligible teacher or childhood educator.

The EITC is a refundable tax credit — not a deduction — ranging from $ 510 to $ 6,318 for 2017.

The EITC is a refundable tax credit, which means that it can be used to reduce your taxable income below zero and generate a tax refund.

However, if the couple files to claim a refundable tax credit, you can't claim him.

Cascade's founders helped put an initiative (Measure 11) on Oregon's 1990 General Election ballot which would have given every Oregon K - 12 student a refundable tax credit to exercise full school choice.

That was the outcome this week in Alabama, where the state's Supreme Court overturned a lower court's attempted termination of the Alabama Accountability Act, a law that included two school choice measures: a tax - credit scholarship program and an individual refundable tax credit.

So if a parent owes $ 200 in state taxes and has a $ 500 refundable tax credit, that parent will receive a $ 300 tax refund.

Making this tax deduction a refundable tax credit would be a great improvement.

The Sarbanes bill also proposes a refundable tax credit to encourage grassroots campaign contributions, and a publicly - financed matching fund.

Stringer proposed the city should triple the current amount of its contribution to the Earned Income Tax Credit, the federal refundable tax credit given to low - income workers.

They could also convert the deduction to a non-refundable or refundable tax credit, which would not only reduce the benefit for high earners but also provide a benefit for homeowners who don't currently itemize and potentially make it more effective at promoting homeownership.

(See also refundable tax credit.)

Refundable tax credit: A tax credit that is payable even when it exceeds an individual's tax liability.

(See refundable tax credit.)

On Monday, two powerful conservative leaders in the House declared the blueprint unacceptable because it relies on giving people refundable tax credits to purchase insurance — a policy mechanism that, in a very rough sense, resembles Obamacare's subsidies to buy mandated health coverage (and is therefore being slammed by conservatives as just another entitlement program).

Conservatives have opposed refundable tax credits, calling them another entitlement program.

(The subsidies for health insurance premiums are structured as refundable tax credits: The portions that exceed taxpayers» other income tax liabilities are classified as outlays; those that reduce tax payments are classified as reductions in revenues.)

Whether or not you get a tax refund depends on the amount of taxes you paid during the year (because they were withheld from your paycheck), your tax liability and whether or not you received any refundable tax credits.

Refundable tax credits, most of which were previously netted against budgetary revenues, are now classified as program expenses.

For example, refundable tax credits such as the Canada Child Tax Benefit, the Working Income Tax Benefit, the Scientific Research and Experiment Development Tax Credit, among others, are classified as expenses in the Budget, but are not included as spending in the Main Estimates.

We can think of no reason why, at a minimum, the Estimates can not be adjusted to include the grossing of spending, refundable tax credits, and the EI Operating Account.

Most low - income households do not pay federal income taxes, typically because their incomes are lower than the combination of their allowed standard deduction and their personal and dependent exemptions, or because they receive substantial rebates via refundable tax credits.

Refundable tax credits can reduce the amount you owe to beyond zero, even resulting in a tax refund.

For individual taxpayers, there are two main types of tax credits: refundable tax credits and non-refundable tax credits.

Since they are classified as payments, refundable tax credits can also help offset your self - employment tax and qualified retirement plan distribution tax.

There are three popular refundable tax credits that can be found on Form 1040:

Refundable tax credits are reported in the «Payments» section of your 1040 tax return, along with Federal income tax withheld and quarterly Estimated Tax payments.

There are also partially refundable tax credits.

Instead, they receive large subsidies from the U.S. Treasury in the form of refundable tax credits.

Refundable tax credits amount to about $ 15 billion a year.