While people across the United States pay federal income taxes, depending on where you live, you may also be subject to state income taxes. The rates vary widely from one state to the next.
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The Income Tax Act was enacted in the year 1961 and is the statute under which everything related to taxation is listed. This includes levy, collection, administration and recovery of income tax.
Learn how cryptocurrency taxes work, from taxable events to rates for short and long-term gains. Stay on top of your taxes with our guide on crypto taxes, rates, and software.