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Law and Legal Studies

Tax Law

529 Plan Contribution Limits

Alternative Minimum Tax (AMT)

Basic Tax Terminology

Charitable Contribution Deduction Rules

Capital Gains Tax Rates

Child Tax Credit

Common Tax Credits

Digital Economy Taxation

Estate and Inheritance Taxes

Foreign Account Tax Compliance Act (FATCA)

Filing Status Categories

Gift Tax Exclusion

IRA Withdrawal Rules

IRS Audit Triggers

Historical Tax Legislation

Important Tax Forms

Key Tax Dates and Deadlines

Medical Expense Deductions

Types of Taxes

U.S. Federal Income Tax Brackets

Transfer Pricing Regulations

Value Added Tax (VAT) Basics

Retirement Account Contribution Limits

Sales Tax Rates by State

Tax Accounting Methods

Tax Exemptions and How They Work

Tax Deductions Overview

Tax Deductible Expenses for Self-Employed

Tax Treaties Explanation

Taxation of Partnerships and S Corporations

Child Tax Credit

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Qualification Criteria for Child Tax Credit

Credit Amount: Up to $2,000 per qualifying child$

Earnings Threshold for Credit

Credit Amount: Reduced if AGI exceeds $200,000 ($ 400,000 for married filing jointly)

Credit for Non-Child Dependents

Credit Amount: Up to $500 for non-child dependents$

Maximum Age for Eligible Child

Credit Amount: $0 for a child who turns 17 before the end of the tax year$

Credit Refundability

Credit Amount: Partially refundable - up to $1,400 per qualifying child$

Social Security Number Requirement

Credit Amount: Must have valid SSN to claim the credit

Residency Requirement

Credit Amount: Full amount based on status and income, unless disallowed due to residency

Income Requirements for Full Credit

Credit Amount: Full $2,000 credit per child below the income thresholds$

Tie-Breaker Rules for Claiming Child

Credit Amount: Determined by applying tie-breaker rules if applicable

Impact of Divorce or Separation

Credit Amount: Specified in divorce or separation agreement or determined by custodial/noncustodial rules

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