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 Can i claim an educaitonal credit on taxes if i paid with a loan that isn't being paid back yet?
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 What should i do with my tax check?
you see i filed my tax check and get the federal part back what should i do with it?

any suggestion is ...


 Uk answers only please.?
does anybody out there know of any debt consolodation companys that come to your house to discus everything.any answers would be much appreciated....


 How much money can i gift my children tax free in the year 2006?
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 I didn't say that I have not been or do not plan to pay my taxes owed from 2005?
I certainly do and have been paying since 2005, however, since I am on a repayment plan, why should I be further penalized by having the stimulus check applied to that balance as well. I feel like I ...


 When's the due date to fill out taxes?
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 Can home repairs be written off on taxes?
I have a pipe leak in the front yard getting fixed and it's going to cost 500 dollars. Will I be able to write that off when I do my taxes?...


 I have had a letter from a Bailiff company saying i owe £600 for council tax from a old address 2 years ago.?
It was a shared house and lost contact with my flat mates. Ive phoned the company and made a apponitment with them, as I cannot afford to pay it all immiediatly. What will their responce be?...


 I have called the IRS MANY Times and keep getting different answers (last 2 are 21)?
I am sure that my check will be mailed..... but I was at first told that it wasn't going to be (by the IRS). I still cannot get anything to show up under "where's my payment". T...


 Okay it's 5/1. Has anyone received their stimulus check yet?
the last two digits of my ss# are 43 so I know they said by May 9th, but I haven't heard a single person say they got theirs yet......


 Can an employer cut your wage?
Just received letter confirming under Job evaluation my new banding and stand to loose £3000per year (current salary protected until April 09). What can I do? Anyone else been through same thing?...


 I quit my job and haven't received my last paycheck & it would be no use to get it in person. Any suggestions?

Additional Details
The place where I worked is a doctor's office. There is no manager. The doctor already told me that he was gonna mail it and it's been 5 weeks already. The ...


 Is it the LAW to use the itemized deductions even if you don't want to?
my question is simple: do you have to take the itemized deductions deduction (assume your deductions the std. deduction [interest and real estate taxes])?

By law, do you HAVE TO take the ...


 What do you think of Bush's recent recommendation to privatize Social Security?
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 Anyone with last two of ssn ending with 10-20 get their paper rebate checks yet.?
Just wondering casue I got a notice that I should get mine by friday. And hubbys last two is 16
Additional Details
yea did the where's my rebate thing says its going to be mailed on ...


 Where does UK government borrow money from?
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 Can I claim my mother as a dependent? She lives in Mexico, I support her financially 100%?
She does not have a SSN, she lives in a house rent free owned by me. I do have records of me wiring money to Mexico every month.
Thanks!
Additional Details
nite_Angelica, it's ...


 How much tax money do i get for 2 infants?
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 What would you feel like if you only had a dollar to live on?
Think about this...If you only had one dollar to buy your food and clothes..how easy do you think that would be?? Not very easy at all. So i want to know what you would do....


 Whats my tax rate?
i am working a lot and trying to ave something right now for a year or two. I am working around 80 hours a week.

my earnings:

1st job: 35 hours per week-- £14000 per year
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minx19831983
Tax credits annual review?
i filled in the form but after checking details our income was £500 less than the year before does that mean they will owe us money?
                     
 




David T
Found this on HMRC website.

Tax credit awards are based on annual income. Initially, tax credit awards are based on annual income for the previous tax year, i.e. awards for the year 2006/07 will be based on income for the tax year 2005/06. But note, initially, awards for the tax year 2003-2004 were based on the annual income for the year to 5th April 2002, nevertheless the same rule applies.

The amount of tax credit can change if a claimant's income (for couples this is joint income) in the year to 5th April 2007 is different from the claimant's income in the previous year.

Claimants should notify the following changes of income:

If income for the year to 5th April 2007 is expected to be less than the income to 5th April 2006. The claimant may be entitled to extra tax credit
If income for the year to 5th April 2007 is expected to be more than £25,000 higher than income for the year to 5th April 2006. The claimant may get less tax credit.
There is no need for a claimant to notify a change if he expects his income for the year to 5th April 2007 to be no more than £25,000 higher than his income for the year to 5th April 2006. It will make no difference to the amount of tax credit he will receive for the current year although the increased income will be taken into account in the following year.

Before 6th April 2006, there was no need for a claimant to notify a change if he expected his income to be no more than £2,500 higher than his previous year’s income


jizzumonkey
my wages haven't changed in 4 years and yet the amount of money i receive every year is different ... i have no idea how the hell they work it all out !!


terrano
Rating
Tax credits in a mess on Tv this morning they are writing off over 5 billion of over payments a girl who was in the studio this morning was told she owes them £4.000.oo pounds after informing them of changes to work and also getting married, answer she got from was no its allright you are entitled to the payments we will make the nescessary adjustments, Hey heads should roll for this but who is responsible.I say that this girl who was honest enough to inform them should have the overpayment waived as it was no fault of hers.


sparman20
I don't think it will make a difference, there used a lea way of up to £2500.00 either way but it changes so much I can not keep up with it. Just give the help line a call 0845 3003900.


Afro
Rating
I doubt it....They may say that you owe them as they had paid you based on the estimate that you gave them.
I know...It's madness!


Mogseye
The whole systems a shambles. I'm glad I'm out of it after having to pay back a overpayment of £1000 which they said I owed. The appeals system is a joke as its not independant. Beware, they are a law unto themselves after all its the Inland Revenue.


kaz
Rating
unfortunately due to the complicated rules the people to ring and check with are the tax credit.


lynnmariesmith
I think your payments will increase.


blondz
Rating
i doubt it sweetie, i know alot about tax credit, u wont owe them anything either, unless u go under a threshold, if you income has gone below 12000 in single or 16000 in joint it may make a difference.but u wll only be looking £50 max in that case if its over 23000, u get a standard amount regardless of income, feel free to ask any more questions if u dont understand, its my job.. :-)


PAUL D
With the way they work don't be surprised if you owe them some. We earned less last year and ended up with less credits than the year before????


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