A honey bee colony typically consists of three kinds of adult bees: workers, drones, and a queen. Several thousand worker bees cooperate in nest building, food collection, and brood rearing. Each member has a definite task to perform, related to its adult age.
The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income. Here are 10 important facts from the IRS about this credit and how it may benefit your family.
What the New Law Does to the Child Tax Credit. The Child Tax Credit provisions of the new tax law are based on changes made in the credit by the 2001 tax cut. That earlier tax cut expanded the child tax credit in two ways. First, it increased the size of the credit from $500 per child to $600 in 2001 through 2004, $700 in 2005 through 2008, $800 in 2009, and $1,000 in 2010. Second, it expanded the refundability of the credit â or the amount in excess of a householdâs tax liability that can be received as a refund from the Treasury.