Explain two income tax credits available to your client to reduce their income tax liability. Provide the two benefits to the U.S. government of granting income tax credits. 

Explain the four factors where the premium tax credit (PTC) applies. 

Provide an example of each factor. Obtain a Form 1040 income tax return. 

Determine where the PTC applies on the form.

Answer rating: 100% (QA)

Two income tax credits to reduce tax liability a Child Tax Credit The Child Tax Credit is a tax credit that provides up to 2000 per qualifying child u... View the full answer