Non-refundable tax credit means that the portion of the credit that is not needed to reduce your tax liability will not be paid to you this year but will be paid to you next year.

Question

Quizplus · Accepted Answer

Non-refundable tax credits can only be used to reduce your tax liability, and any unused portion cannot be carried forward to the next year or paid to you as a refund. Therefore, the statement is false.

Non-Refundable Tax Credit Means That the Portion of the Credit