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China is an example of a collectivist nation.
Full-Time Student
An individual who is enrolled in a post-secondary institution and meets the institution's requirements for full-time status.
Qualified Day Care Center
A facility that meets certain criteria and regulations to provide childcare services, often eligible for specific tax benefits.
EIC Formula
The Earned Income Credit Formula is a method used by the IRS to determine the amount of earned income credit a taxpayer is eligible for, based on income, filing status, and number of qualifying children.
Qualifying Children
Dependents of a taxpayer that meet specific IRS criteria for Age, Relationship, Support, and Residency, affecting tax benefits.
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