TAXES REFUND CALENDAR
BlackBerry Said to Negotiate for Tax Refund of up to B
The Waterloo, Ontario-based company said in a filing last month that it expected to receive a $ 500 million rebate from the government in the first half of fiscal 2014, which begins in March. Now it's aiming to get the refund before the end of calendar …
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My brother claims he is getting $ 8000 back in tax refunds this year. He has a wife and one minor child. The wife doesn’t work, and he has been laid off all year. The family thinks he may be dipping into Grandma’s account on the sly (Grandma is in a nursing home)
My brother says he has already received the tax refund and bought a new car with it. Something doesn’t seem right to me at all. Any help or suggestions please?
Answer by Common Sense
He may very well have cheated. However there is a large tax credit for 1st time home buyers. Since that probably didn;t happen, it looks like he played fast and loose with numbers. It’ll take a while but the IRS will get him, When they hit, it hurts.
Answer by the tax lady
There are 5 refundable credits this year:
Making Work Pay. Requires earned income.
EIC. Requires earned income.
Additional Child tax credit. Requires earned income.
First Time Homebuyer credit. Requires you by a house.
American Opportunity credit. Requires that you pay tuition.
If your brother magically created income when he didn’t have any, the IRS *will* catch it. When they do, he will owe it back, with penalties and interest, *and* will be barred from claiming EIC for 10 years.
Answer by hamam213
no it really isn’t possible because he wouldn’t even be eligible for the work Take credit since he didn’t work. he may have got something back for his child and possibly wife but no where near 8,000.00 .. example my husband makes 45,000.00 a year i make 30,000 we got 2,000.00 back see … we work and have great income. we didn’t even get that back. there is deff. something up with that i would play it off…id go to him in front of other people and say hey i went to such and such were u got your taxes done just to ask a few questions and i found out that there was no way for u to get that Much back, see what kind of answer you get if he gets loud and mad then you know that 8000 came from grandma. you can always ask the person who is ahead of your grandmothers account to check and see if any large amounts like 8000 was withdrawn.