Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

A tax credit is an amount of money the government allows you to subtract from your taxable income.

A. True
B. False


Sagot :

Final answer:

Tax credits are government-provided reductions in taxable income that can lead to tax refunds in some cases.


Explanation:

Tax credits are amounts of money allowed by the government to be subtracted from taxable income. This reduces the amount of tax owed and can even result in a tax refund if the credits exceed the tax liability. For example, the Earned Income Tax Credit provides a supplement for each dollar of income earned by low-income individuals.


Learn more about Tax credits here:

https://brainly.com/question/43569241