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Foreign Tax Credit
A nonrefundable tax credit for income taxes paid to a foreign government as a result of foreign income tax withholdings.
Taxable Income
The portion of an individual's or a corporation's income that is subject to taxation by the government after deductions and exemptions.
Foreign Income Taxes
Taxes levied by a foreign country on income earned within its jurisdiction, which can sometimes be credited against domestic taxes in the taxpayer's home country.
Premium Tax Credit
A refundable credit that helps eligible individuals and families with low to moderate income afford health insurance purchased through the Health Insurance Marketplace.
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