Give five instances of income that is not reported to IRS

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Questions - Answer the following questions

1. Give five instances of revenue that needs to be disclosed to the Internal Revenue Service.

2. For taxation purposes, how are long- and short-term capital gains handled differently?

3. Give five instances of income that is not reported to the IRS.

4. Differentiate between a personal exemption and a standard deduction.

5. Decide whether a tax is progressive or regressive.

Reference no: EM133251640

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