Exemptions
Filing Status
VITA
Credits
Potpourri
100
This reduced your taxable income by $3,700 in 2011.
What is an exemption?
100
Your filing status is determined by your status on this day of the year.
What is December 31?
100
This is what VITA stands for.
What is volunteer income tax assistance?
100
This is the largest antipoverty program in the US.
What is the earned income tax credit (EITC)?
100
This is the largest anti-poverty program in the country.
What is the EITC?
200
Elena's daughter who is claimed on the tax return is this type of exemption.
What is a dependent exemption?
200
Filing status determines this deduction in taxable income.
What is standard deduction?
200
These are the income limits for filers with dependents and filers without dependents.
What is $50,000 and $25,000?
200
Child Tax Credit, the Retirement Saver's Credit, and the Lifetime learning Credit are examples of this. They are only helpful to filers with taxable income.
What is a non-refundable credit?
200
These are the forms of social security verification accepted at VITA sites?
What is a photo copy of the social security card, the social security card, a letter verifying the number from social security administration?
300
George is claimed on his father's tax return. George is single with no dependents. This is the number of exemptions on George's own return.
What is 0?
300
Alex has two children who he supports fully and live with him. In 2010, his wife passed away. He has not remarried. Alex and his wife would have filed a joint return in 2010. This is his most beneficial filing status for tax year 2012.
What is qualified widower with depedent child(ren)?
300
What state returns are done at NYC VITA sites?
What are NYS returns?
300
The age a dependent must be younger than in order for her parents to qualify for the child tax credit or additional child tax credit.
What is younger than 17?
300
This is the largest drain to EITC dollars?
What is a refund anticipation loan (RAL)?
400
Sam, a friend of Derek, sleeps on Derek's couch all year. Sam doesn't work or contribute to any household costs. Sam meets a test for this type of exemption.
What is a qualifying relative?
400
Fernanda hasn't lived with her husband since August 2012. She has one daughter and does not want to file with her husband. This is her filing status.
What is married filing separately?
400
1.1% of all filers are audited. Of those who are audited, this is the percentage of filers who had returns with EITC claims in 2010.
What is 30%? (What is 35.6% in 2009?)
400
The filing status that disqualifies filers from the EITC, the lifetime learning credit, the American Opportunity Credit, and the Retirement Saver's Credit.
What is married filing separately?
400
These are the boroughs in which we have tax sites.
What is Brooklyn and Manhattan?
500
Harry is single, 22, and not a full time student. During 2012, he earned $5,000 working part-time. He lives with his mother who pay the rent, as well all other household costs that she and Harry share. This condition disqualifies Harry from being a qualifying relative for the dependent exemption.
What is gross income?
500
Cathy
What is married filing jointly, qualifying widower with dependent child, & qualifying widower with dependent child?
500
This is the amount of refunds returned to MoneyUP tax filers in the past 5tn years.
What is more than 10 million?
500
This condition is found in the test for qualifying child for dependent exemption but not found in the test for qualifying child for EITC.
What is the support test?
500
This is the maximum EITC a NYC resident is eligible to receive for tax year 2012.
What is $7952? 5891 1767 295
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