Saved from the IRS Part 2: More Income the Government Can’t Touch

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.