No. Deductions only reduce your taxable income. Your tax amount equals taxable income times tax rate. Thus, a tax refund increases (or tax liability reduces) by the amount equivalent to an amount of deductions times tax rate.
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No. Deductions only reduce your taxable income. Your tax amount equals taxable income times tax rate. Thus, a tax refund increases (or tax liability reduces) by the amount equivalent to an amount of deductions times tax rate.
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No. Deductions only reduce your taxable income. Your tax amount equals taxable income times tax rate. Thus, a tax refund increases (or tax liability reduces) by the amount equivalent to an amount of deductions times tax rate.