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IRS SAYS: REPORT ALL TAXABLE INCOME

 DALLAS, Feb. 10 /PRNewswire/ -- Although wages and salaries are the most common types of income subject to federal tax, there are many other kinds of income that must be reported on tax returns, an IRS spokesperson said today.
 According to the Internal Revenue Service, examples of other taxable income include:
 -- Interest and stock dividends paid to investors;
 -- State income tax refunds and sales of stock, bonds or other
 property;
 -- Sick pay benefits not covered by insurance paid by the
 recipient;
 -- Unemployment compensation;
 -- The value of prizes and winnings from lotteries, raffles, races
 or other forms of gambling;
 -- Bonuses and tips.
 To ensure that all income is properly reported, the IRS routinely compares individual tax returns with income information provided by payers on Forms 1099 and W-2.
 -0- 2/10/93
 /NOTE TO EDITORS: Listed below is the IRS Public Affairs contact for your area. These names are for media use only. Please do not include them in your story except for attributions. Thank you./
 /CONTACT: Arizona, Marty Hosimer, 602-207-8488; Colorado, Rosemary Campbell, 303-446-1650; Kansas, James Manuszak, 316-291-6400; New Mexico, Laura Criel, 505-766-2537; Oklahoma, David Stell, 405-297-4444; East Texas, Steve Yost, 713-653-3670; North Texas, Marlene Gaysek, 214-767-1424; West Texas, Sally Sassen, 512-499-5315; Utah, Jan Hadley, 801-524-5297; or Wyoming, Tim Harms, 307-772-2162, all of the Internal Revenue Service/


CO: Internal Revenue Service ST: Arizona, Colorado, Kansas, New Mexico, Oklahoma, Texas, Utah IN: SU:

MC -- DV006 -- 5142 02/10/93 12:13 EST
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Publication:PR Newswire
Date:Feb 10, 1993
Words:240
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