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What are three types of special tax credits

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Reference no: EM13338633

Question 1:

Using the South University Online Library or the Internet, research about special tax credits. Based on your research and understanding, answer the following questions:

What are three types of special tax credits? Explain.

What are the limitations on special tax credits? Why do these credits exist?

Who benefits the most from special tax credits?

Question 2:

Using the South University Online Library or the Internet, research about individual tax return. Based on your research and understanding, answer the following questions:

What are the most common itemized deductions found on an individual tax return?

What types of limitations exist on these itemized deductions? Why do the limitations exist?

When are the itemized deductions phased out? Why?

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Reference no: EM13338633

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