Module VII: Credits (1040 Exam Prep Study Guide Series) Review
Seventh Module of the 1040 Exam Prep e-Books Series. The easiest, cheapest, and fastest option tax return preparers have to meet the IRS competency examination and become a Registered Tax Return Preparer.
Credits are one of the components of the Form 1040 formula used to determine the tax due or the refund for a tax period. There are several types of credits that can directly reduce the tax liability. The tax liability minus tax credits equals payable taxes, or tax refund. In this Module you will find the analysis of the tax credits for individuals that you need to know to pass the IRS competency examination.
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