Nonrefundable Tax Credits Are Allowed to Reduce or Totally Eliminate

question 79

True/False

Nonrefundable tax credits are allowed to reduce or totally eliminate a taxpayer's tax liability but any credits in excess of the tax liability are lost.

---

Definitions:

Labor Relations

Labor relations is the field and practice concerning the management of relationships between employers and employees, including collective bargaining, labor rights, and dispute resolution.

Efficiency

The effectiveness with which resources are used to achieve goals and objectives, often evaluated in terms of output per unit of input.

Equity

The concept of fairness and justice in the distribution of wealth, opportunities, and privileges within a society.

Voice

The ability or opportunity for individuals or groups to express opinions and influence decisions that affect them.