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When a Person Is Forced Against His/her Will to Work

question 10

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When a person is forced against his/her will to work by force,threat of force or abuse of law to pay off a debt and the value of the work has not been adequately applied to the debt,they have been subjected to


Definitions:

Current Year

The present calendar or fiscal year in which business operations, transactions, or tax considerations are being referenced or conducted.

Form 2553

A tax form used by small businesses to elect to be treated as an S corporation for the purposes of federal taxation.

Taxable Income

The portion of income that is subject to taxation after all allowances, deductions, and exemptions are considered.

Book Income

The income reported by a corporation for financial reporting purposes, which may differ from taxable income.

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