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Old 03-11-2013, 12:54 PM   #174
53x12
Scooby Specialist
 
Member#: 206332
Join Date: Mar 2009
Location: In a tent
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Quote:
Originally Posted by elirentz View Post
You get a refund because you've paid tax all year out of your paycheck and you've paid more than you owe. With a tax credit you will owe less so you will get a bigger refund. It benefits anyone who earns taxable income.

The thing is, I would never have a tax bill of $7,500. Plus the issue is that you get "up to" $7500 in tax credit. Uncle Sam doesn't cut you a refund check for the left over.
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