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Financial Planning / Tax Strategies


Subject:  Tax regulations Date:  1/4/2001  10:19 PM
Author:  patriciagodfrey Number:  43940 of 127753

Since it requires not only an assessment of taxes owed but also the liability created to pay them, what IRS regulation creates the liability to pay income tax? I have searched the code in Title 26 and can't find a regulation that invokes this liability. I have been able to find the sections that create liability if I distill alcohol, sell tobacco, or manufacture firearms but none on the earning of compensation for labor sold. Am I just confused? Please point me to the regulations on this matter. Thank you.

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