What is exempt from federal taxation?

Answer The Internal Revenue Service recognizes two categories of income: taxable and nontaxable. When income is non-taxable, the federal government does not claim rights to any part of it. Being aware of ... Read More »

Top Q&A For: What is exempt from federal taxation

Are active duty military wages exempt from taxation in New Jersey?

An active duty service member who claims New Jersey as his state of legal residency on his Leave and Earnings Statement (LES) must pay taxes in the state. However, if the soldier deploys to a comba... Read More »

Who Is Exempt From Federal Withholding?

Federal withholding refers to the portion of your income that an employer sets aside and sends to the Internal Revenue Service to offset your tax liability at tax time. The amount withheld is deter... Read More »

Is Cuba exempt from federal taxes?

Cuba is a sovereign nation and the United States has no legal right to levy federal taxes on residents of Cuba who earn income while working in that country. Cuba has its own tax system and levies ... Read More »

Are Maine municipals exempt from federal taxes?

The federal government does not tax as income the interest on municipal bonds issued by governmental entities in Maine. However, the municipals, also called munis, meet certain qualifications. Inte... Read More »