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Get the free Tax Policy and U.S. Territories - CRS Reports

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Department of the Treasury Internal Revenue ServicePublication 570 Cat. No. 15118BTax Guide for Individuals With Income From U.S. Territories For use in preparing2023 ReturnsFuture Developments For
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Tax policy refers to the laws and regulations governing taxation in the United States, determining how taxes are imposed, collected, and enforced.
Individuals, businesses, and organizations that earn income or meet specific criteria established by the IRS are required to file tax returns under U.S. tax policy.
To fill out tax policy forms in the U.S., individuals should gather all necessary financial information, such as income documents and deductions, complete the appropriate tax forms (like IRS Form 1040), and submit them to the IRS by the deadline.
The purpose of tax policy in the U.S. is to generate revenue for government services and infrastructure, promote economic stability, and ensure an equitable distribution of the tax burden.
Taxpayers must report their income, deductions, credits, and any other relevant financial information required by the IRS on their tax returns.
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