Process for an individual tax payer


Problem: Describe the steps in the appeal process for an individual tax payer.

Define the following and give examples:

a. gross income

b. income excluded from tax

c. imputed interest

d. adjusted gross income

e. standard deduction

f. itemized deductions

g. phaseouts

h. kiddie tax

i. tax credits

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Accounting Basics: Process for an individual tax payer
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