If Tom,an accountant,agrees to provide accounting services to Fred,a friend,in exchange for Fred fixing Tom's office floor,then:

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In the United States, the Internal Revenue Service (IRS) requires individuals to report bartered services as income. Both Tom and Fred are providing services to each other, which have a fair market value, and thus both must report this value as income on their tax returns.

If Tom,an Accountant,agrees to Provide Accounting Services to Fred,a Friend,in