What is gross income and give five examples of gross income


Problem

Review the information shown in your textbook pertaining to the IRS Volunteer Income Tax Assistance (VITA) Program. VITA is a nationwide program which assists low/moderate income taxpayers in preparing their Form 1040 returns for free. The vast majority of VITA returns are filed electronically. In your Discussion Post, describe:

What does the 16th Amendment of the U.S. Constitution say? Who must file a Form 1040? What is Gross Income? Give 5 examples of Gross Income. What are the various Filing Statuses? Where does a taxpayer find the tax tables and schedules?

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Taxation: What is gross income and give five examples of gross income
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