Tax Credits
CADCOM
The 1040
Income
Filing Status
100
Credit for people who do not earn high incomes. It can reduce your taxes and result in a refund. In simple terms, workers keep more of what they earn. Income and family size determine the amount of the EITC. The income amounts and the amount of EITC are adjusted for inflation each year.
What is EITC?
100
You will volunteer at this anti-poverty agency located at 113 East Main Street, Norristown, PA Tuesdays through Thursdays and Saturday mornings.
What is CADCOM?
100
This is listed on line 22 of the 1040.
What is Income?
100
This form reports income that you receive in exchange for your labor.
What is the form W2?
100
Taxpayers can use this filing status if they are unmarried, paid more than half the cost of keeping up a home and have a qualifying relative who lived with the taxpayer.
What is Head of Household?
200
This credit is nonrefundable and may add as much as $1,000 to your tax refund depending on your income. In order to qualify you must have someone in your family who is under the age of 17,lived with you for more than half the year and a legal citizen.
What is the Child Tax Credit?
200
This person is the Asset Development Coordinator at Montgomery County Community Action Development. She is our main support and is responsible for advertising the Free Tax Prep opportunity to clients in Norristown.
What is Phyllis Mason?
200
Tax Clients must sign this line in order for their tax return to be valid.
What is the "Sign Here?" line?
200
A United States government program that provides stipends to low-income persons who are either aged (65 or older), blind, or disabled.
What is Social Security Income?
200
Single, Married Filing Jointly, Married Filing Separately, Qualifying Widow, Head of Household
What is filing statuses?
300
Did you pay someone to care for a child, spouse, or dependent last year? If so, you may be able to claim this credit.
What is the Child and Dependent care credit?
300
This organization provides free tax assistance to families with low-to moderate-income and connects Montgomery County residents to other asset-building resources. Through the help of local volunteers, Montgomery County residents file their taxes at MCTC's VITA (Volunteer Income Tax Assistance) sites.
What is the Montgomery County Tax Coalition?
300
This is where you will find the names and Social Security numbers of the children of the tax payer.
What is line C ?
300
Funds received over and above wages for services rendered. Also known as gratuities.
What is Tip Income?
300
This is the least beneficial filing status.
What is Married Filing Separately?
400
This credit is available to taxpayers who have incurred expenses related to the first two years of postsecondary education.For this credit to be claimed by a taxpayer, the student must attend school on at least a part-time basis. The credit can be claimed for education expenses incurred by the taxpayer, the taxpayer’s spouse, or the taxpayer’s dependent.
What is the Hope Credit?
400
This is what clients leave with this after they file their taxes at CADCOM.
What is a 1040?
400
This is where you can see the total amount of money that the tax payer is getting back from the federal government.
What is line 73a?
400
Income coming from interest payments, dividends, capital gains collected upon the sale of a security or other assets.
What is investment income?
400
This is used to determine how a person is taxed. It is based on a person's financial responsibilities and must be determined for every client.
What is a filing status?
500
This credit is available for all years of post secondary education and for courses to acquire or improve job skills.
What is the Lifetime Learning Credit?
500
You need these in order to get to CADCOM for free.
What is a Van Driver or a Token?
500
If the tax payer is filing as 'Head of Household' this line will be checked.
What is line 4?
500
This form reports income that is paid as a result of a taxpayer's inability to find gainful employment. It is paid from either a federal or state-sponsored fund. The recipient must meet certain criteria in trying to find a job.
What is 1099-G?
500
A taxpayer can file this status if the taxpayer's spouse died during the year and has not remarried.
What is Married Filing Jointly?
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