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After reinstatement of the individual federal income tax in 1894, why was the tax challenged in the courts? A. Revenue from taxes was no longer necessary because the Civil War was over. B. Administration would be difficult since the tax was apportioned in proportion to state populations. C. The ...

The two components of tax calculation are the tax rate and the taxpayers status - -FALSE What is the components of the tax calculation - -Tax rate & tax base The 9th Amendment to the U.S. Constitution removed all doubt that a federal income tax was allowed under the U.S. Constitution. - -FALSE H...

What is the nature of a progressive tax rate structure? - -increasing marginal tax rate as the tax base increases-federal taxes is an example Which two expenses are a tax-free use of a qualified tuition plan (QTP) distribution? - -QTP (such as 529 plans) allow for qualified higher education expen...

Two components of the tax calculation - tax base multiplied by the tax rate Characteristics of a "Tax" - >Payment required - NOT VOLUNTARY >Payment imposed by government agency (federal, state, local) >Payment not tied directly to benefit received by the taxpayer 16th Amendment - remo...

The two components of the tax calculation are the tax rate and the taxpayer's status. T/F - -False, tax rate x tax base The 9th Amendment to the U.S. Constitution removed all doubt that a federal income tax was allowed under the U.S. Constitution. T/F - -False, The 16th amendment was ratified in...

The largest source of revenues for the federal government comes from - -individual income taxes. Arthur pays tax of $5,000 on taxable income of $50,000 while taxpayer Barbara pays tax of $12,000 on $120,000. The tax is a - -proportional tax. Which of the following taxes is regressive? - -Federal ...

Define each component of the individual income tax formula - -income from whatever source derived exclusions=any item of income that the tax laws says is not taxable gross income=all income received in cash, property, and services from whatever source derived and from which the taxpayer derives ...

Tax. (CHAPTER 1) a payment required by a government that is unrelated to any specific benefit or service received from the government 3 Criteria Payment must be *Required (not INVOLUNTARY) *Imposed by a government agency (federal, state, local) *Not tied directly to the benefit received by th...

B)Progressive tax rate structure The U.S. Federal Income Tax System is: A)Regressive tax rate structure B)Progressive tax rate structure C)Proportional tax rate structure D)Possessive tax rate structure marginal tax rate U.S. Federal and State Income Taxes use a progressive tax rate structure...

After the reinstatement of the individual federal income tax in 1894, why was the tax challenged in the courts? - Administration would be difficult since the tax was apportioned in proportion to state populations What are two primary sources of tax law in the United States? - Revenue Rulings, Cou...

Describe the history of taxation in the US - -unconstitutional 1895 Sources of Tax Law-Legislative Branch - -- Internal Revenue Code (Top) - Congressional Committee Reports Describe the criteria of an equitable tax structure Equity - -Is it Fair Simplicity - -understandability Economy - -minima...

Number of days that are initially given to an audited individual or business to either request a conference with an appeals officer or agree to the proposed adjustment. (Ch 2-6) - - 30 Number of days that are given to an audited individual or business after the appeals conference to either pay th...