Education issues for NC filers

[FEDUKE404]

So exactly how are you handling education "deductions from federal taxable income" on line 52 of NC Form D-400?

(For the unitiated, NC has no education credits but does allow a limited deduction of up to $4k from income for such amounts as were used for the credits on the federal return.)

Technically such a deduction is not currently allowed.....because the NC legislators have been a bit busy doing other things....and the deduction expired at the end of the 2009 tax year. Legislation to catch up with the feds is still pending.

Some software says to go ahead and take it (assuming it will eventually become allowable for 2010) and, if such does not happen, then file an amended state return to remove the deduction.

Oh well - at least no one is (yet) rioting in Raleigh.

LINK: http://www.dornc.com/taxes/individual/acts2010.html

FE

[Super Mom]

I was wondering about that too, the NC DOR website says to take the credit because they anticipate it happening, but you may have to ammend if they don't, try explaining that to TP! I keep watching and hope they will pass something, but still haven't!!!!!!! I had one that I didn't take it, will take it if and when it passes, have one coming up that I'll take it and ammend if it doesn't pass!!!!!!!! Either way, I'll be ammending!!!! Thanks politicians!!!!!!

[Super Mom]

Have you had any complaints about NC refunds not getting deposited? I had a lady call me last week about hers, her Federal was deposited like 3 weeks ago!! I'm still waiting for my state refund too, got Federal over a week ago!

[FEDUKE404]

State refunds of the NC type

Have you had any complaints about NC refunds not getting deposited? I had a lady call me last week about hers, her Federal was deposited like 3 weeks ago!! I'm still waiting for my state refund too, got Federal over a week ago!

I tell all of my clients the approximate (and generally accurate) deposit date for their federal refund. I also tell my clients who are to receive a state refund (NC) that there is absolutely no telling when those funds will arrive. Frequently I just tell them they can hope to have their money in time for Christmas shopping.

If the legislators cannot yet even get around to establishing tax laws for the year 2010, they hardly are capable of managing (or finding the money in the first place!) any taxpayer refunds.

My guess is the governor (ole Blue Eyes) and her cohorts are too busy working with their own lawyers in order to avoid jail sentences and/or working on their slim reelection chances.

FE