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Describe the three levels of listening, starting with the lowest level. What happens as you move from the first to the third level?
Form 1040
This is the standard IRS form individuals use to file their annual income tax returns.
Lifetime Learning Credit
A tax credit that provides financial assistance for post-secondary education by allowing taxpayers to deduct a percentage of their tuition and fees.
Modified AGI
Adjusted Gross Income (AGI) with certain adjustments added back in, often used in tax calculations to determine eligibility for certain tax benefits.
Married Filing Joint
A filing status on U.S. tax returns allowing married couples to combine their incomes, deductions, and credits on a single tax return, potentially leading to tax benefits.
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