1040EZ—line 4 FAFSA, Free Application for Federal Student Aid by Federal Student Aid (Ft. Fred Tugas)

This is one of the easiest totals on the 1040EZ. Simply add up wages, tips, salaries, taxable interest, unemployment, and Alaska Permanent Fund money!

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An important priority for those who care for GCE children and all children born into high risk environments is to address the problems that contribute to their disadvantage, including not only maternal drug use but also limited access to resources needed to provide cognitively and emotionally stimulating experiences early in life Effects of Cocaine and Poverty on the Child's Brain by Dr. Hallam Hurt (Ft. Laura M Betancourt, PhD & Wei Yang)

While the drug use itself, undoubtedly continued by the parent after birth, continues to cause its own issues, this may not be the root cause. Like most sour things, poverty appears to be the answer. With a shockingly large portion of America in poverty (some 15.1% in 2010), the syndrome and its effects may be shockingly common.

The consequence of poverty is universal: less access to resources and education. Not only is a GCE child stunted by the drug, but cannot find the tools, methods, and techniques necessary to break through despite the defect. As a result, the child grows up behind, not only living less than a full life, but likely continuing the cycle of poverty.

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1040EZ FAFSA, Free Application for Federal Student Aid by Federal Student Aid (Ft. Fred Tugas)

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IRS 1040 FAFSA, Free Application for Federal Student Aid by Federal Student Aid (Ft. Fred Tugas)

What’s that? You find that broken down on News Genius!

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Amount from line 37 (adjusted gross income) 1040 by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax) 28

Simply repeat what you wrote in line 37. Why this line even exists, nobody knows!

In other news, you’re now halfway through the form! Turning the curve…

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Retirement savings contributions credit. Attach Form 8880 1040 by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax) 28

This is a mix of lowish income and a retirement plan. If your contributions qualify, you can get a credit for planning for the future! Just head to Form 8880 and find out if you qualify. Being smart about your money does have a return!

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First-time homebuyer credit repayment. Attach Form 5405 if required 1040 by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax) 28

Started in 2008 in the Housing and Economic Recovery Act of 2008, a stimulus-era plan to increase home ownership, the First-time homebuyer credit was extended to buyers in 2008, 2009, and 2010. For some reason, it still appears on the 2012 form. Here’s what to do:

In the rare chance that you bought a home then, simply fill out form 5405 to determine what you paid. This repayment triggers only if you sell or otherwise destroy your home. Yet again, this is tax professional territory — avoid going this alone!

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Household employment taxes from Schedule H 1040 by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax) 28

Let’s assume you have a maid, housekeeper, or some other non-independent contractor worker for your house. Now that that dream is over, here’s what to do.

If you ended up paying them $1,800 or more, you’ll need to fill out Schedule H. But wait! Did you enslave your own kid and “pay” him or her to work in the house? Hot damn — that can’t be taxed! There’s nothing like blood relation to save you some money.

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Unreported social security and Medicare tax from Form:
a 4137
b 8919
1040 by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax) 28

Surprise: tips count as income! As income, they also must supply part of federal Social Security and Medicare tax. This can be added and calculated on Form 4137.

Like unclaimed tips, wages earned (but not as an independent contractor) that did not have Social Security and Medicare taxes removed are required to be taxed. Form 8919 has your back.

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Caution. Do not include expenses reimbursed or paid by others Schedule A by Internal Revenue Service (Ft. IRS)

Because that’s tax fraud. And the IRS does not like tax fraud. Especially double dipping.

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