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Since tax free interest is not subject to income taxes, it is not included in the calculation ofadjusted gross income (AGI)for taxation purposes. Issuers or lenders that pay more than $10 in tax free interest must report the interest income to both taxpayers and the IRS on Form 1099-INT....
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The Internal Revenue Service (IRS), through its Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs, seeks to assist eligible individuals by offering them basic tax return preparation assistance free of charge. Qualified individuals include people with disabilities...
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