SSA Work Incentives (Questions with correct solutions)

Medicaid Buy-in and Waivers correct answers Provision of health care services to workers with severe disabilities by establishing Medicaid state plan buy-in optional eligibility groups Earned Income Tax Credit correct answers A credit for people who earn low-to-moderate incomes. Can reduce taxes and mean a refund. Working families and individuals may keep more of what they work for. Individual Development Accounts correct answers Special savings accounts that are designed to help people build assets for increased financial self-sufficiency and long-term economic security. Work Opportunity Tax Credit correct answers Federal tax credit that encourages employers to hire eight targeted groups of job seekers by reducing employers' federal income tax liability by as much as $2,400 per qualified new worker; $750, if working 120 hours or $1,200, if working 400 hours or more, per qualified summer youth. Housing and Urban Development correct answers Federal program that provides rental and home ownership assistance for low-income individuals and families who are elderly and/or disabled Information, Support and Assistance correct answers List of technical assistance and support centers and contact information, such as area work incentive coordinators, work incentives planning and assistance programs, etc. Volunteer Income Tax Assistance (VITA) correct answers Offers free tax help to low- to moderate-income (generally, $49,000 and below) people who cannot prepare their own tax returns. Certified volunteers sponsored by various organizations receive training to help prepare basic tax returns in communities across the country. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations. Most locations also offer free electronic filing.