Identify one major exclusion and one tax credit

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Reference no: EM13755042

Identify one major exclusion and one tax credit. Find the relevant Internal Revenue Code Section that provides for the exclusion or credit using Thomas or IRS.GOV, copy the first paragraph, including the Code Section, and paste it into your post. Please answer this question for each: Did Congress enact this exclusion or credit for a social or economic purpose? Or both? For your third post this week, identify one of your colleagues' posts and respond to their observations with a concurrence or not; either way, support your position. Discuss which provides a greater tax advantage to the taxpayer, deductions or tax credits.

Reference no: EM13755042

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