An individual who is on welfare is usually provided with free or deeply discounted goods and services. The government requires that individuals or families seeking assistance must prove that their annual income falls below thefederal poverty level (FPL). The FPL is an economic measure of income us...
The Child Tax Credit can significantly reduce your tax bill if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency and 7. family income. You and/or your child must pass all sev
OK, so first of all, who qualifies for a tax extension? LISA GREENE-LEWIS: Anyone can file for a tax extension, but one thing to know, that it is an extension to file and not to pay. So if you owe money, you want to pay what you owe, even if you file an ...
In this blog post, we will break down what head of household means, who qualifies for this status, and the income tax brackets associated with it. By the end, you’ll have a clear understanding of how head of household can impact your finances. Key Takeaways: Head of Household is a fi...
DEPENDucator: Who qualifies as a dependent on my tax return? CHILDucator: Do I get the Child Tax Credit for my dependent? FILEucator: Does my dependent have to file taxes? EITCucator: Is my Earned Income Tax Credit bigger when I claim dependents? TAXometer: How do I claim my depende...
The Earned Income Tax Credit (EITC) is a refundable tax credit American citizens or permanent residents can receive if they have earned any income in a fiscal year. The IRS limits the amount of investment money a person can have (for 2012, $3,200 or less), and the filer must be either...
Welfare/Public Assistance: The main purpose of the social Welfare/Public Assistance system is to offer assistance to needy individuals and families. The state, country, or region where an individual or a family resides will determine the type and amount of availability of welfare. These individuals...
Find out whether you qualify for the Earned Income Tax Credit by answering six yes or no questions. This video will help you get started with the Earned Income Credit (EIC) and help you get all the tax deductions and credits you qualify for.
The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty.
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