If Government Land Is Leased or Sold for Oil and Coal

question 78

Multiple Choice

If government land is leased or sold for oil and coal exploration at lower-than-market rates,
It is an example of a(n)

• A)earmark.
• B)subsidy.
• C)tax expenditure.
• D)earned income tax credit.

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Definitions:

Nontaxable Social Security Benefits

Portions of Social Security payments that are not subject to federal income tax under certain conditions.

AGI

Adjusted Gross Income, calculated as gross income minus adjustments, is a key figure in determining taxable income and eligibility for various tax deductions and credits.

Premium Tax Credit

A repayable tax credit intended to assist qualified individuals and families with low or moderate incomes in purchasing health insurance via the Health Insurance Marketplace.

Qualified Plan

A retirement plan that meets the requirements of the Internal Revenue Code, allowing for tax-deferred contributions and earnings until withdrawal.