Top Tax Scams For 2007 Dependant Upon Irs: Difference between revisions

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Revision as of 16:40, 16 September 2024

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B) Interest earned, although not paid, throughout a bond year, must be accrued at the conclusion of the bond year and reported as taxable income for the calendar year in in which the bond year ends.

Example: Mary, an American citizen, is single and lives in Bermuda. She earns a salary of $450,000. Part of Mary's income will be subject to U.S. taxes at the 39.6% tax rate.

People hate paying place a burden on. Tax avoidance strategies are entirely legal and must be made good use of. Tax evasion, however, is not. Make sure you know where the fine line is.

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