Frequently Asked Questions - Disability Tax Credit
| What is the difference between a Refund and a Credit? |
| A refund is money paid back by the government based on taxes paid in the past - If you didn't pay any taxes in the past, there is no refund available. A credit is a dollar value amount that you can use to reduce your taxable income when you do your taxes in future years. It reduces the amount of taxes you will have to pay in the future. In both cases, you may transfer the refund or the credit to a spouse if they are paying taxes when you aren't paying enough tax. |
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