using tax year 2021 (Filling Year 2022) Tax Returns Table

What are the most significant credits claimed by individual taxpayers? How do the credits claimed differ by income class? To answer these questions, go to the IRS Tax Statistics page B Obrps//Anwwirs gow/statisticsland download the Microsoft Excel spreadsheet that documents tax liability, tax credits, and tax payments. You can find this in the Individual Income Tax Return (Form 1040) Statisties section of the site; click on the by Size of Adjusted Gross Income* link. Evaluate the credits claimed (both nonrefundable and refundable) by size of AGL. Group the data into the following AGI classes: $25,000 or less; $25,000 to $50,000;550,000 to $100,000;$100,000 to $500,000;$500,000 or more. This assignment will be graded and count as much as a weekly homework assignment. Assignment Questions After your data analysis, select one credit that is noted and research the history of the credit, In a short paper, answer the following questions: 01. When was the credit first enacted and how has it been changed over the years? 02. Discuss whether you support the credit, and provide a clear explanation as to why. Table 3.3. All Returns: Tax Llability, Tax Credits, and Tax Payments, by Size of Adj usted Gross Income, Tax Year 2021 (Filing Year 2022)