Examlex
Which statement about dementia is incorrect?
Dependent Child
A child who relies on their parent or guardian for more than half of their financial support and meets certain IRS criteria for tax purposes.
Foreign Tax Credit
A tax credit that cannot be refunded for income taxes paid to an external government due to withholdings from foreign income tax.
Foreign Income Taxes
Taxes paid to a foreign government for income earned outside of the taxpayer's resident country.
U.S. Tax Liability
The total amount of tax owed to the United States government, including federal, state, and local taxes.
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