What is the amount of their child tax credit

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Reference no: EM132510422

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Q1. Sophia and Kevin have three children, ages 14, 15, and 17. They claim the exemptions for all three children. Their AGI is $51,500, and tax liability is $1,874. What is the amount, if any, of their child tax credit?

a) $3,000

b) $2,000

c) $1,874

d) $1,000

Q2. Cheryl took an online tax preparation course and will begin working as a paid tax preparer for a local company where most returns are electronically filed. Which of the following statements regarding e-filing is correct?

a) Returns that are e-filed are not eligible for an extension.

b) The prescribed due dates for filing returns do not apply to e-file returns.

c) An electronically filed return is considered filed once the ERO submits the return.

d) If the electronic portion of a return is transmitted on or shortly before the due date and is rejected, but the provider and the taxpayer comply with the requirements for timely resubmission of a correct return, the return will be considered timely filed.

Reference no: EM132510422

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