I heard that there's a way we can get an advance on our next year taxes...is this true?
2006-08-24 10:19:58 · 10 answers · asked by PG 4 in Business & Finance ➔ Taxes ➔ United States
yes if you have earned income credit. You can get what they call advanced earned income. If you qualify. Just talk to your employer and they will have you fill out the appropriate forms.
2006-08-24 10:27:07 · answer #1 · answered by surfer grl 5 · 0⤊ 0⤋
If you are EIC qualified you may ask that your employer advance you some of that each month. The only other way to get an "advance on your taxes" is to get a pre-file loan from a tax preparation company (really a bank they work with). However the interest is really high and you can not get that until December.
2006-08-24 17:44:07 · answer #2 · answered by ? 6 · 1⤊ 0⤋
NO ...but you can reduce the amount of money your boss takes out of your paycheck each week!
Use the form W4 to adjust this, do it as often as you like however you need to be aware of tax you will owe by Dec. 31st. This is an easy calculation for your accounting dept or any H&R Block office. Take to much from the taxes your boss withholds and you will owe money at the end of the year, don't take out as much and you will have a refund comming.
Again any (most) tax preparer offices will help you calculate your tax due at end of year for no charge.
good luck...
2006-08-24 23:39:16 · answer #3 · answered by awaken_now 5 · 1⤊ 0⤋
first, you are a little confused....what you would get is any overpayment of taxes that you made. Until you have paid in taxes no one knows how much you overpay, if any. Everyone that makes money pays taxes. If you are very poor and dont make much money, you will get it all back. But you cant get a tax cut if you already get all yours back. Now if you make a lot of money, you may get a lot back. Its also possible you can get a tax cut. All the money you make in one year is figured up and a tax is calculated on that amount. So until the last day of the year, the IRS doesnt know how much taxes to withhold. got it?
2006-08-24 17:28:10 · answer #4 · answered by ronnie b 3 · 1⤊ 1⤋
Never heard of that one. Usually you don't get your W-2 forms until the end of the year. Kind of hard to fill out a tax form without 'em.
2006-08-24 17:21:35 · answer #5 · answered by Oklahoman 6 · 0⤊ 0⤋
no you cannot yeah right like the goverment would give up anything like that lol the only way is to seek a private loan from a friend good luck
2006-08-25 07:52:38 · answer #6 · answered by kent w 1 · 0⤊ 1⤋
no...but if you owe money, you can set up a payment plan with the IRS.
2006-08-24 17:25:42 · answer #7 · answered by ? 4 · 1⤊ 0⤋
claim 10 on your W4.
2006-08-24 17:21:51 · answer #8 · answered by St. Anthony of Y!Answers 4 · 0⤊ 2⤋
I dont speak english,,,,,sorry, can you give me the 10 points??? please...Im from colombia
2006-08-24 17:21:04 · answer #9 · answered by JUANES 3 · 0⤊ 3⤋
no clue
2006-08-24 17:21:13 · answer #10 · answered by ZxssxZ 5 · 0⤊ 3⤋