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7CHAPTERIncome Tapestries are the price we pay for civilization. Oliver Wendell Holmes, Jr., American Jurist71 72 73 74 75Tax Tables, Worksheets, and Schedules Modeling Tax Schedules Income Statements
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Taxes are financial charges imposed by the government on individuals or businesses in order to fund public services and projects.
Individuals and businesses who meet certain income thresholds or have specific types of income are required to file taxes.
Taxes can be filled out either manually using paper forms or electronically through tax software or online platforms.
The purpose of taxes is to fund government services such as infrastructure, education, healthcare, and national defense.
Income, deductions, credits, and other financial information must be reported on taxes.
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