Final answer:
Children under 18 and full-time students under 24 are taxed differently than other taxpayers, with benefits and exemptions available to parents and students.
Step-by-step explanation:
Children under 18 and full-time students under 24 are taxed differently than other taxpayers when it comes to certain tax benefits and exemptions.
For example, parents can claim dependent exemptions for their children who are under 18, which can reduce the amount of taxable income. Additionally, students under 24 who are full-time students may still be considered dependents if they meet certain criteria, such as receiving financial support from their parents.
These tax differences aim to acknowledge the financial responsibilities and burdens that come with raising children or supporting students while still being in an educational phase of their lives.