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Old 12-24-2014, 08:28 PM
 
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Nonrefundable tax credits merely represent government letting people keep more of their money. or a reduction in the amount of tax owed by the taxpayer. Refundable tax credits represent money actually paid by government to tax filers.

On what authority does the IRS give money to people claiming refundable tax credits?
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Old 12-24-2014, 08:30 PM
 
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They're both loopholes in the tax code. Both should be abolished.
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