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In at least ONE PARAGRAPH, please answer the following: What is the impact of tax credits on a taxpayers tax liability? What is the difference

In at least ONE PARAGRAPH, please answer the following: What is the impact of tax credits on a taxpayers tax liability? What is the difference between a refundable and a nonrefundable credit? (Please give an example of each) As a taxpayer, is it better to take a deduction, or receive a credit?

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