Examlex
Lichens are formed by an association between
Taxable Income
The amount of income used to calculate how much the tax will be for an individual or a corporation, after all deductions and exemptions.
Tax Liability
The total amount of tax owed to the IRS by an individual or business for a given tax year.
Income Tax Formula
The calculation used to determine the amount of income tax that an individual or entity owes to the government.
Taxpayers
Persons or organizations required to remit taxes to a government at the federal, state, or local level.
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