|
#2
06-27-2006, 04:38 PM
| |||
| |||
 Re: Refund Question Arthur Kamlet wrote: - quote - > CJL <cjl[at]invalid.com> wrote:
Tax released on account of an NOL was still paid in at some> > If a person or corporation pays no taxes during its fiscal > > year and its expenses are greater than its profits, is this > > person or corporation due a refund on its losses? > > > I have a friend that in this position that claims they will > > be getting a refund though they paid no taxes. > Perhaps they had an NOL this year and look back two years > and find they are due a tax refund from 2004, it would seem > as if they lost money this year but got back taxes. point (for some other year). One has to pay in before one can get a "refund" (in the true sense of the word). << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#1
06-24-2006, 02:18 AM
| |||
| |||
| Re: Refund Question CJL" <cjl[at]invalid.com> wrote: - quote - > If a person or corporation pays no taxes during its fiscal
There seems to be something wrong with the way the situation> year and its expenses are greater than its profits, is this > person or corporation due a refund on its losses? has been stated. For most corporations expenses usually exceed profits. Do you mean that expenses were greater then revenue? To oversimplify, profit = revenue minus expenses, -- Vic Roberts Replace xxx with vdr in e-mail address. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
06-23-2006, 07:10 AM
| |||
| |||
| Re: Refund Question CJL <cjl[at]invalid.com> wrote: - quote - > If a person or corporation pays no taxes during its fiscal
Perhaps they had an NOL this year and look back two years> year and its expenses are greater than its profits, is this > person or corporation due a refund on its losses? > I have a friend that in this position that claims they will > be getting a refund though they paid no taxes. and find they are due a tax refund from 2004, it would seem as if they lost money this year but got back taxes. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#-1
06-23-2006, 01:17 AM
| |||
| |||
| Refund Question If a person or corporation pays no taxes during its fiscal year and its expenses are greater than its profits, is this person or corporation due a refund on its losses? I have a friend that in this position that claims they will be getting a refund though they paid no taxes. Any links would be helpful. Thanks CJL << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| question, refund |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| IRS Confiscated My Tax Refund Saying Return Date Was After Refund User: The IRS had requested an older tax return, saying they had not received it (year 2000), though I had sent it in on time. (I had overpaid 2000 by... | Taxes | 3 | 07-28-2005 12:41 PM | |
| IRS Took Older Tax Refund - Said Refund Period Expired - Any Recourse? User: Help! The IRS had requested a couple of older tax returns, saying they had not received them (years 2000 and 2001). I had overpaid 2000 by... | Taxes | 3 | 07-01-2005 04:06 PM | |
| Refund check question Dick Adams: Friend called me. His refund for 2000 just arrived. He owes about half of that (before penalties and interest) on his 2001 return. He wanted to... | Taxes | 4 | 12-03-2004 04:13 PM | |
| refund Joan Kaapke: I e-filed my return using Tax-Act, and received a refund on Jan. 30th. The only problem is that the refund I received is $360 less than I claimed... | Taxes | 2 | 02-12-2004 07:51 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
