ST Alpha - "It must be the difference between 'you had a tax liability' for the year, not balance due on that liability? -- nm" (Reading a Post)

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In response to "appar I didn't understand this either. I can't believe you have to owe at EOY to get credit. I have no idea how I could structure my life " by amanda jeans

It must be the difference between 'you had a tax liability' for the year, not balance due on that liability? -- nm

Posted by Max Apr 12 '21, 10:38

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everyone here is saying credit against what you owe, not against liability. if this is true, there's kind of no incentive because the vast majority of - amanda jeans Apr 12, 10:43 3
- It’s a credit against liability just like any other credit. -- nm - spamlet Apr 12, 10:55
- It helps wealthy people who owe taxes because they have taxable liability for things other than wages. Sales of stocks, property etc. It's not for - jnine Apr 12, 10:47
- Everyone here is probably either mistaken or using ambiguous terminology. It’s a non-refundable credit, so cannot exceed your tax liability. -- (edited) - znufrii Apr 12, 10:45

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