Federal Corporation Taxes

Most large corporations are classified as C corporations and are required to file a federal corporate income tax return with the IRS every year.If the corporation qualifies…

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Federal Estate and Gift Taxes

A Federal Estate Tax Return must generally be filed for the estate of every U.S. citizen or resident whose gross estate, taxable gifts, and specific exemptions exceed $2,000,000 in 2006…

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Federal Individual Income Tax

The federal individual income tax is levied on the worldwide income of U.S. citizens and resident aliens and on certain types of U.S. source income of nonresidents. For a nonitemizer, “tax table income” is adjusted gross income less $3,000 for each personal…

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Internal Revenue Service

The Internal Revenue Service (IRS), a bureau of the U.S. Treasury Department, is the federal agency charged with the administration of the tax laws passed by Congress.…

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History of the Income Tax in the United States

The nation had few taxes in its early history. From 1791 to 1802, the United States government was supported by internal taxes on distilled spirits, carriages, refined sugar, tobacco and snuff, property sold at auction, corporate bonds, and slaves. The high cost…

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