Show:
credits vs deductions
child tax credit/Additional CTC
Due Diligence
Earned Income Credit
Refundable and Non Refundable
100
Reduces the tax liability to the taxpayer
What is a credit
100
Age 17
What is the age that a child must be under to qualify for the Child Tax Credit
100
form 8867
What is the paid Preparer's Due Diligence Checklist?
100
$6269
What is the maximum amount for the Earned Income Credit?
100
The credits that can only be used to lower your tax obligation
What is a non-refundable credit?
200
Lowers the tax by reducing the amount of taxable income
What is are deductions
200
The form 8812
What is the form for the Child Tax Credit
200
Believing that what your client says are the facts
What is the knowledge reuqirement
200
Be at least 25 years old, but younger than 65
What is a requirement for a taxpayer without qualifying children
200
Additional Child Tax, American Opportunity, Earned Income
What are refundable credits
300
standard, exemptions, itemized
What are deductions?
300
Includes both taxable earned income and non taxable combat pay
What is Earned income for the purposes of the Additional Child Tax Credit
300
documenting all the questions and answers in the interview
What is satisfying the documentation requirement?
300
$53,505
What is the earned income and AGI less than to qualify for EIC if MFJ, with three children or more?
300
wild card
What is you get the points for free
400
child tax, american opportunity, earned income
What are credits?
400
have earned income exceeding $3000 and Three or more qualifying children
What is the qualification for the Additional Child tax Credit?
400
$510
What is the penalty against the preparer for each failure to meet the due diligence requirements?
400
$3400
What is the investment income limitation for EITC
400
nontaxable combat pay,net premium tax credit
What are more refundable credits?
500
They are considered "above the line"?
What are deductions ?
500
15% of the amount by which earned income exceeds $3,000
What can any taxpayer with at least one qualifying child claim?
500
keeping all the the worksheets and documents for three years
What is the document retention requirement?
500
Schedule EIC
What is the EITC form for taxpayers with qualifying children?
500
Education credits, Retirement Savings Contribution credit, Child and Dependent Care Credit
What are more non-refundable credits?