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I, on the other hand, have a degree from the University of Life, a diploma from the School of Hard Knocks, and three gold stars from the Kindergarten of Getting the Shit Kicked Out of Me.
An income tax is a tax that governments impose on income generated by businesses and individuals within their jurisdiction. By law, taxpayers must file an income tax return annually to determine their tax obligations.12 Income taxes are a source of revenue for governments. They are used to fund public services, pay government obligations, and provide goods for citizens. Certain investments, like housing authority bonds, tend to be exempt from income taxes.3
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