The Time Period Variable Reflects the Fact That

question 82

Multiple Choice

The time period variable reflects the fact that:

• A)Federal income tax rules are not stable over time.
• B)A tax dollar paid this year cost more than a tax dollar paid in a future year.
• C)A taxpayer's marginal rate next year may be more or less than the current marginal rate.
• D)None of the above

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Definitions:

EIC

Earned Income Credit, a refundable tax credit for low- to moderate-income working individuals and families.

Tax Refund

The amount of money returned to a taxpayer when the amount of taxes paid exceeds the actual tax liability.

Child and Dependent Care Credit

A tax credit offered to taxpayers to offset the cost of care for qualifying dependents to enable employment.

Full-time Student

A status designated for individuals enrolled in an educational institution taking a full load of courses as defined by the institution.