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Profit and Loss from Business Schedule C Data Sheet TY 2017This form is to assist you in gathering your income tax information. All income must be reported, including cash and bartering. Business

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What is federal income tax flashcardsquizlet?

Federal income tax is a tax imposed by the United States Internal Revenue Service (IRS) on the income of individuals and businesses.

Who is required to file federal income tax flashcardsquizlet?

Individuals and businesses who meet certain income thresholds are required to file federal income tax.

How to fill out federal income tax flashcardsquizlet?

You can fill out federal income tax forms either manually or electronically through the IRS website or tax preparation software.

What is the purpose of federal income tax flashcardsquizlet?

The purpose of federal income tax is to fund government operations and provide public services.

What information must be reported on federal income tax flashcardsquizlet?

Income, deductions, credits, and other financial information must be reported on federal income tax forms.

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