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This thread has been incredibly helpful to me. I was told by two separate tax professionals that I could not add the credit onto a refund. Apparently they did not understand the difference between tax overpayment and tax liability.
In any case, we are going to change our W-4 (we currently have no exemptions) in order to stop getting such a huge refund, and are going to be tucking away every spare penny this year into the adoption fund. Since we bought our house three years ago we have been getting about $9000 back each year. While this is nice, I'd rather get it sooner than later.
Does anyone know how an exemption relates to how much less they take out? Is it a certain percentage point?
Karen
homestudying
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