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UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 88773 / April 29, 2020, ADMINISTRATIVE PROCEEDING File No. 319775 ___ In the Matter
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The United States of America (USA) is a country primarily located in North America, made up of 50 states, a federal district, five major self-governing territories, and various possessions. It is known for its diverse culture, economy, and political influence globally.
In the context of taxes, individuals who earn an income in the USA, including U.S. citizens, residents, and certain non-residents, are generally required to file a tax return if their income exceeds a certain threshold.
To fill out a tax return in the USA, individuals typically need to gather their income statements, choose the correct form (e.g., 1040), and follow the instructions to report income, claim deductions and credits, and calculate tax liability.
The primary purpose of the United States, as a nation, is to provide a framework for governance, protect individual rights and freedoms, ensure economic stability, and promote the general welfare of its citizens.
Individuals must report various types of income, including wages, interest, dividends, and capital gains, as well as adjust for deductions, credits, and other relevant financial information on their tax returns.
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