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Simple English definitions for legal terms

child- and dependent-care tax credit

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A quick definition of child- and dependent-care tax credit:

The child- and dependent-care tax credit is a way to get money back from the government if you have a job and take care of a child or a disabled family member. It's not like a deduction, where you just lower the amount of money you have to pay taxes on. Instead, it's like getting free money from the government that you can use to pay your taxes. There are also other types of tax credits, like the earned-income credit for low-income workers with kids, the foreign tax credit for people who earn money in other countries, and the investment tax credit for businesses that buy new equipment. Finally, there's the unified estate-and-gift tax credit, which is a credit that helps people who want to give away their money or property to their family without having to pay a lot of taxes.

A more thorough explanation:

The child- and dependent-care tax credit is a type of tax credit that is subtracted directly from one's total tax liability, dollar for dollar, as opposed to a deduction from gross income. This tax credit is available to a person who is employed full-time and who maintains a household for a dependent child or a disabled spouse or dependent.

  • Earned-income credit: A refundable federal tax credit on the earned income of a low-income worker with dependent children. The credit is paid to the taxpayer even if it exceeds the total tax liability.
  • Foreign tax credit: A tax credit against U.S. income taxes for a taxpayer who earns income overseas and has paid foreign taxes on that income.
  • Investment tax credit: A tax credit intended to stimulate business investment in capital goods by allowing a percentage of the purchase price as a credit against the taxpayer's income taxes.
  • Unified estate-and-gift tax credit: A tax credit applied against the federal unified transfer tax.

These examples illustrate different types of tax credits that are available to taxpayers under certain circumstances. For example, the earned-income credit is available to low-income workers with dependent children, while the foreign tax credit is available to taxpayers who earn income overseas and pay foreign taxes on that income. The investment tax credit is intended to stimulate business investment, while the unified estate-and-gift tax credit is applied against the federal unified transfer tax.

child-access prevention statute | child application

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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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