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Today's Terms
Earned Income Credit
Definition:
A tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit.
Standard Mileage Rate
Definition:
For 2004, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck is increased to 37.5 cents a mile for all business miles.
Employee
Definition:
Works for an employer. Employers can control when, where, and how the employee performs the work.
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