In what ways does your filing status affect preparation of your federal income tax return? What are the main sources available to help people prepare their taxes? What actions can reduce the chances of an IRS audit? Using your Personal Financial Plan Sheet 9, calculate your federal income tax estimate. Kapoor, Jack R.. Focus on Personal Finance (p. 113). McGraw-Hill Higher Education. Kindle Edition.For the following tax situations, indicate if the item refers to tax-exempt income or tax-deferred income. a. Interest earned on municipal bonds Kapoor, Jack R.. Focus on Personal Finance (p. 118). McGraw-Hill Higher Education. Kindle Edition