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Earned Income Credit
A refundable tax credit for low to moderate-income working individuals and families, particularly those with children.
Qualifying Child
A dependent of a taxpayer who meets specific IRS criteria for age, relationship, residency, and support for tax benefits.
Retirement Savings
Funds accumulated for retirement, often involving tax advantages, through vehicles such as 401(k) plans, IRAs, or annuities.
AGI
Adjusted Gross Income, an individual's total gross income minus specific deductions, used in the United States tax system to determine taxable income.
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