Federal Taxation Outline

Hoffman, W., Maloney, D., Raabe, W., & Young, J. (2013). Federal Taxation Comprehensive Volume. (36 ed.). Ohio: South-W

Although the Food Stamp Program is universal and selective, it is a great program to help the poor. Patti Landers (2007) stated: to be qualified for Food Stamps, “households [members] must have gross and net incomes below 130% and 100% of the poverty threshold, respectively” (p. 1946). Another study from the Florida Food Stamp Program also stated that “Family groups must have income and assets below the program standards, which includes meeting the poverty guideline of the federal government” (Program Description). It also says that family must cooperate with Child Support Enforcement agencies and food stamp participants must be a citizen of the United States or a holder of a registration alien card and they must be a resident of the

The Federal Government defines poverty as income that falls below the United States Poverty threshold. (Begun 95). If a person

“For 2016, the penalty is $695 per adult and $347.50 per child under 18 (up to a maximum of $2,085 per family), or 2.5% of household income, whichever is greater. In other words, the $695 amount is a floor for individuals, not a ceiling. You must make a payment for each household member who you claim as a dependent. The penalty amount will be indexed for inflation each year starting in 2017. For prior years, the penalties are:

Section 152(a) provides that for a taxpayer to take a dependency exemption, the potential dependent must satisfy either the qualifying child requirement or the qualifying relative requirement. Section 152(b)(2) indicates that the taxpayer is not permitted a dependency exemption for a married dependent if the married individual files a joint return. Pursuant to section 152(c), the term “qualifying child” refers to an individual who has not furnished over one-half of his or her own support and who has not attained the age of 19 or who has not attained the age of 24, if a full-time student, as of the close of such calendar year. The term “qualifying relative” under section 152(d) includes, but is not limited to, an individual whose gross income is less than the exemption amount and to whom the taxpayer provides over-half of the total individual’s support for the calendar year in which such taxable year begins. Under Reg. Sec. 1.152 (a), support received from the taxpayer is compared to the entire amount of support which the potential dependent received from all sources, including support which the individual supplied himself. Support includes food, shelter, medical and dental care, education, recreation,

This was also the first year Kandace filed with her husband and was not a dependent for us.

Children must meet specific guidelines in order to qualify for Head Start. Family income (over the last year) is considered. The family must

In order for a person to be eligible for the U.S. welfare aid, program managers must determine a number of

The Temporary Assistance for Needy Families (TANF) is a federally funded program that was created to assist needy families in becoming self-sufficient. According to the U.S. Department of Health & Human Services, TANF has four major purposes. (U.S. Department of Health & Human Services, 2015) The first is to “provide assistance to needy families so that children can be cared for in their own homes”. The second is to “reduce the dependency of needy parents by promoting job preparation, work and marriage”. The third is to “prevent and reduce the incidence of out-of-wedlock pregnancies”. The final purpose is to “encourage the formation and maintenance of two-parent families”. The Temporary Assistance for Needy Families program allows the States flexibility in identifying criteria for the populations served. However, there are a few general and federally imposed restrictions that are as follows. States must

The other option afforded to the Ouray’s is to file separately as a married couple. Filing separately can be advantages under special circumstances. However, if the couple was to file separately, there are several restrictions. First being, that if one spouse cannot demonstrate more than one-half of a child’s support is provided by them, a multiple-support agreement must be filed. Next, if one taxpayer itemizes their deductions they must both take itemized deduction and same goes if one person takes a standard deduction, the other must as well. If filing status was to be separate, neither spouse can claim the earned income credit and the credit for child and dependent care expenses. Next, no deduction is allowed for the interest paid on educations loans, and only $1,500 of excess capital losses can be claimed by each person.

I Cashee’ Rosswas providing support for my nephew in 2015. I stop providing for him at the end of 2015. I was able to file head of household in 2015 because I was providing support at that time, I accidentally click (Hit) the wrong box when I was doing my FAFSA 18/19 when it ask about dependency other than child/ spouse. I have made the corrections.

In 2014, the Colorado state legislature passed House Bill 17-1002 - the Child Care Expenses Tax Credit. This bill was aimed at alleviating the exuberant costs of child care in the state by providing a small, flat-dollar tax credit to low-income, working families. Families must meet several qualifications to receive the credit in its current form: they must be making less than $60,000 per year, they must have at least one child receiving child care services from a licensed provider in the state of Colorado, they must file a federal tax return, and they must provide the proper documentation stipulated in their taxes. The credit offers these families a sum of $500 for one child receiving care or $1,000 for two or more children receiving care. This credit is available to low-income, working families separately from the more-sizable, federal child care tax credits already in place, meaning that families who meet eligibility requirements for both credits may receive both without penalty.

One of the factors that plays a role in this issue is poverty. Poverty can define all those who make less than the federal government 's threshold,“for a family of four, this threshold is $24,000”(Poverty

In order to be eligible for Earned Income Tax Credit (EITC) you must either meet the rules for workers without a qualifying child or have a child that meets all the qualifying child rules for you. The tax credit can be seen as a bell curve.

• The family is living is living at the poverty level. The mother is working full-time but only making slightly more than minimum wage.