Howard Is Single and Has a Son Age 15

question 54

Multiple Choice

Howard is single and has a son age 15. Howard's adjusted gross income for 2018 is $16,000 so he has no taxable income or tax liability. What amount can he claim for the refundable child tax credit?

• A)$- 0 -
• B)$700
• C)$1,400
• D)$2,000
• E)$2,025

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Definitions:

20-Year Period

A term generally used to describe a fixed duration of twenty years, which can be relevant in various contexts, such as financial investments, statutes of limitations, and property rights.

General Welfare Clause

Article I, Section 8, Clause 1 of the U.S. Constitution which reads in part that Congress is empowered to “lay and collect taxes, Duties, Imposts, and Excises, to pay the Debts and provide for the common defense and general welfare of the United States.”

U.S. Constitution

The supreme law of the United States, establishing the national government and fundamental laws, and guaranteeing certain basic rights to its citizens.