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Bob has a total tax liability of $4,000 but $2,000 in federal income taxes withheld and an Earned Income Credit of $4,000. Based on this
Bob has a total tax liability of $4,000 but $2,000 in federal income taxes withheld and an Earned Income Credit of $4,000. Based on this information, which of the following statements is true?
a. Bob will not receive a tax refund or have to pay additional taxes this year.
b. Bob still owes $2,000 in tax payments
c. Bob will receive a tax refund of $2,000
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