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Sorry. Reread the statute C-A-R-E-F-U-L-L-Y. "The following ITEMS of income SHALL BE TREATED AS SOURCES" makes it pretty clear that for the purposes of that section of the code, "items" and "sources" are semantically identical--and that such is the legislative intent.

Oh give me a flippin' break, Poohbah!! Take your own advice, for crying out loud!

The following items of gross income shall be treated as income from sources within the United States

The following ITEMS shall be treated AS INCOME, not "AS SOURCES."

110 posted on 01/14/2003 9:52:46 AM PST by mvpel

But your correction does not make it any easier for you. Remember, you only get ONE get-out-of-jail-free pass using the Cheek defense, and you still owe taxes, interest, and penalties!

112 posted on 01/14/2003 9:55:14 AM PST by Poohbah (When you're not looking, this tag line says something else.)

Sources of income are not taxed; the income ITSELF is taxed.

117 posted on 01/14/2003 10:16:09 AM PST by Poohbah (When you're not looking, this tag line says something else.)

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