Howard Is Single and Has a Son Age 15

question 22

Multiple Choice

Howard is single and has a son age 15. Howard's adjusted gross income for 2014 is $80,000. What amount can he claim for the child tax credit?

• A) $- 0 -
• B) $ 250
• C) $ 350
• D) $ 750
• E) $1,000

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Definitions:

Rebate

A partial refund given to someone who has paid too much for tax, rent, or a utility.

Mailbox Rule

The mailbox rule is a legal principle that an offer is considered accepted once the acceptance is properly placed in the mail, even if it is lost or delayed.

Effective Upon Dispatch

Effective upon dispatch refers to the principle that certain actions, such as the sending of a notification or document, are considered effective from the moment they are sent, not when they are received.

Reasonable Expectation

refers to what an average person might foresee or predict as a likely outcome under certain circumstances, often used as a standard in legal and ethical considerations.