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Tax Announcements IRS Offers Tips on Items Excluded from Income The IRS has provided a tax tip to reacquaint taxpayers with situations where certain types of income are partially taxed or not taxed at all. The IRS identified common examples of items that are not included in income, such as:
Additionally, the IRS pointed out several items that may or may not be included in income depending on the circumstances, such as:
The IRS reminded taxpayers that all other items, including income such as wages, salaries and tips, must be included in income unless specifically excluded by law. Also see: |
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