Which statement is correct?The child and dependent care credit is available to any parent who pays for child care for a child under age $13.$

Group of answer choices

True

False

Group of answer choices

Tax credits reduce tax liability on a dollar$-$for$-$dollar basis.

The benefit of a tax credit depends on the taxpayer's marginal tax rate.

Tax deductions are less valuable for high$-$income taxpayers than for low$-$income taxpayers.

Tax deductions reduce tax liability on a dollar$-$for$-$dollar basis.

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