Consultant 4 lawfully OPTING OUT of income tax WITH IRS AGREEMENT! Supreme Court recognizes your RIGHT to pay lowest tax legally possible (in most cases, $0!)
Apr 6, 2019 • 13 tweets • 3 min read
1) 26 USC Sec. 1 imposes tax on “taxable income”.
“Taxable income” is gross income minus deductions.
26 CFR Sec. 1.61-1 says “gross income” means all income...UNLESS EXCLUDED BY LAW.
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Current Regs use various terms to describe income “excluded by law” from “gross income”:
2) 26 CFR 1.265-1 uses the phrase “class of exempt income” & say this means any class of income which is:
i) Wholly excluded from gross income under any provision of Subtitle A OR
ii) Wholly excluded from the taxes imposed by Subtitle A under provisions of ANY OTHER LAW 🤔
