When Is A Tax Case Considered A Felony: Difference between revisions

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Revision as of 21:00, 20 September 2024

A credit is allowed for foreign income taxes paid or accrued. The credit is limited compared to that part of Ough.S. tax due to foreign source income. It's not refundable, but any excess credit end up being the carried to other years to reduce tax.

If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your income tax bill is will be approximately 3200 dollars.

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