Examlex
IDENTIFICATION
-Ricardo Lagos
Tax Credit
A tax benefit that directly reduces the amount of tax owed dollar for dollar.
Child and Dependent Care Expenses
Expenses related to the care of children or other dependents that can be deducted from taxable income.
AGI
This represents the total income a person has, including wages, salaries, and other sources, minus adjustments, used as a basis for calculating tax owed.
Qualifying Children
Qualifying Children are the dependents of a taxpayer who meet specific IRS criteria for the taxpayer to be eligible for certain tax credits and deductions.
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