Are you one of those taxpayers who thinks of the IRS as an insatiable beast that feasts on all of their income? Take heart. As a general rule, the law does authorize the IRS to cut itself in for a share of each dollar of your income, whether from earnings, investments, or what have you. But you should be aware that no taxes are due on a lot of the income that people receive. Knowing the more common exceptions may help to ease the tax bite when filing time rolls around.
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