Dealing With Tax Problems: Easy As Pie: Difference between revisions
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Revision as of 17:39, 3 September 2026
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Municipal bonds and I-bonds (issued by the U.S. Treasury) are non-taxable. The federal income tax statutes echos the language of the 16th amendment in stating that it reaches "all income from whatever source derived," (26 USC s. 61) including criminal enterprises; criminals who fail to report their income accurately have been successfully prosecuted for anjing. Since the language of the amendment is clearly intended restrict the jurisdiction in the courts, occasion not immediately clear why the courts emphasize the words "all income" and neglect the derivation of the entire phrase to interpret this section - except to reach a desired political result.
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