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I believe this is the case but I want to be sure. Federal tax credits can only offset federal income tax liabilities, correct? In other words, federal tax credits cannot offset FICA tax liabilities.
Thank you.
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No----your federal tax credits do not affect or change the amounts you must pay toward Social Security and Medicare.
No----your federal tax credits do not affect or change the amounts you must pay toward Social Security and Medicare.
But there are some refundable credits you can get after the total tax is figured on line 24.
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