Income shifting refers to the process of transferring income from the taxpayer to the Internal Revenue Service (IRS).

Name: Income shifting refers to the process of transferring income from the taxpayer to the Internal Revenue Service (IRS).
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Income shifting actually refers to the process of transferring income from a high-tax bracket taxpayer to a lower-tax bracket taxpayer, such as a dependent child or spouse, in order to reduce overall tax liability.

Income Shifting Refers to the Process of Transferring Income from the Taxpayer