A refundable tax credit is one that: may result in both the federal government giving...
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Accounting
A refundable tax credit is one that:
may result in both the federal government giving money back in excess of taxes paid and a negative effective tax rate. may result in the federal government giving money back in excess of taxes paid. always results in your tax liability being eliminated. may result in a negative effective tax rate. Which of the following refers to your income after deductions?
Gross income.
Adjusted gross income AGI
Assessed income.
Tax formula.
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