Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Mom Confessions Mom Confessions

tax refunds

Posted by Anonymous   + Show Post
Are tax refunds from prior year taxable income the following year? We got $21k back last year and I want to make sure we won't be paying tax on it this year.
Posted by Anonymous on Dec. 31, 2012 at 8:53 AM
Replies (11-12):
AdoptingMommy
by Gold Member on Dec. 31, 2012 at 9:13 AM
1 mom liked this
It took them a while for ours it was 2011 though! Anyhoo your good! I hope they get the tax credit reapproved bc we will be going in for our 1st step in a few weeks for #2 adoption:)
Congrats from a fellow AP


Quoting Anonymous:

No. They sent us a letter it was under review and they had 45 days before interest would be added. They deposited on the 45th day.



Quoting AdoptingMommy:

ok, So did they pay you intrest on it (ours took a while bc they audited it) They will put in the intrest which i think for us was only 120.00 or so, but nothing bad. The only thing else that will go into it is the state. You will be good!






Quoting Anonymous:

$13, 360 was adoption tax credit. Rest was regular refund.







Quoting AdoptingMommy:

you pay them on state not federal. Did you have a tax credit? I recieved about that much last yr but 13,170 was an adoption tax credit


Posted on CafeMom Mobile
Anonymous
by Anonymous 6 on Dec. 31, 2012 at 9:22 AM
Idk
Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)