 | Learning Objectives
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When you have completed this chapter, you should be able to master the following Learning Objectives (LO):
- Understand progressive, proportional, and regressive tax structures.
- Understand the concepts of average and marginal tax rates as well as a simple income tax formula.
- Understand the components of a 1040EZ income tax return.
- Determine tax liability in instances when a 1040EZ return is appropriate.
- Understand the types of tax authority and how they interrelate (Appendix A).
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