kristenduetsch kristenduetsch

18-06-2024
Business

Answered

A tax credit is an amount of money the government allows you to subtract from your taxable income.

A. True
B. False

Answer :

GinnyAnswer GinnyAnswer

18-06-2024

Final answer:

Tax credits are government-provided reductions in taxable income that can lead to tax refunds in some cases.

Explanation:

Tax credits are amounts of money allowed by the government to be subtracted from taxable income. This reduces the amount of tax owed and can even result in a tax refund if the credits exceed the tax liability. For example, the Earned Income Tax Credit provides a supplement for each dollar of income earned by low-income individuals.

Learn more about Tax credits here:

https://brainly.com/question/43569241

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