Wgu c237 taxation i Study guides, Class notes & Summaries
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WGU C237 Taxation I: Questions/Answers
- Exam (elaborations) • 28 pages • 2023
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WGU C237 Taxation I: Questions/Answers
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(Top QUALITY 2024/2025 EXAM REVIEW)WGU C237 Taxation I, Exam Questions and answers, 100% Accurate, VERIFIED.
- Exam (elaborations) • 29 pages • 2023
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WGU C237 Taxation I, Exam Questions 
and answers, 100% Accurate, VERIFIED. 
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 a direct economic benefit 
deductions for AGI=expense one would see on an income statement (wages, repairs, depreciation)...
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WGU C237 Taxation I Review, Questions and answers, 100% Accurate. VERIFIED 2024
- Exam (elaborations) • 13 pages • 2023
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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, Court Decisions, 
Internal Revenue Code, Congressional Committee Reports, Income Tax Regulations, Revenue Procedures, 
and letter rulings 
What is a primary source of tax law in the United States? - Inte...
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WGU C237 Taxation I Review for Final, Exam Questions & Answers, Graded A+ 2024
- Exam (elaborations) • 11 pages • 2023
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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 structures. Progressive tax rate structures 
increase the ______________ as the tax base increases. 
Regressive tax rate 
_______________structures decrease the marginal tax rate as the tax bases increases. 
R...
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WGU C237 Taxation I, Exam Questions and answers, 100% Accurate, VERIFIED 2024
- Exam (elaborations) • 10 pages • 2023
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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 - -minimal compliance and administrative costs 
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Convenience - -no burden of records and compliance 
Certainty - -Stability and certainty of amount of taxes 
Regressive - -decreases as tax base increases 
Pr...
Too much month left at the end of the money?
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WGU C237 Taxation I Review/Study Guide
- Exam (elaborations) • 13 pages • 2023
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WGU C237 Taxation I Review/Study Guide
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(Top QUALITY 2024/2025 EXAM REVIEW) WGU C237 Taxation I, Exam Questions and answers, 100% Accurate. Graded A+ Tax. (CHAPTER 1)
- Exam (elaborations) • 16 pages • 2023
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WGU C237 Taxation I, Exam Questions 
and answers, 100% Accurate. Graded A+ 
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 the taxpayer 
- Continuous debate whom to tax, what to tax, how much to tax 
Sin Tax 
taxes imposed on the purchase of goods...
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WGU C237 Taxation I Comprehensive Actual Exam Questions With Detailed Correct Answers.
- Exam (elaborations) • 10 pages • 2024
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Describe the history of taxation in the US - correct answer 1861 - to finance civil war 
1894 - Income tax reinstated but ruled unconstitutional 1895 
1913 - 16th amendment 
1940 - WWII mass tax 
1943 - pay as you go withholding 
1986 - Internal Revenue Code 
 
Identify the sources of tax law - correct answer Legislative Branch 
 - Internal Revenue Code (Top) 
 - Congressional Committee Reports 
Executi...
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WGU C237 Taxation 1 study guide Taxation I 2024
- Exam (elaborations) • 7 pages • 2024
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WGU C237 Taxation 1 study guide Taxation I 2024
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(Top QUALITY 2024/2025 EXAM REVIEW) WGU C237 Taxation I Review, Questions and answers, 100% Accurate. VERIFIED.
- Exam (elaborations) • 13 pages • 2023
-
Available in package deal
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- $9.49
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WGU C237 Taxation I Review, Questions 
and answers, 100% Accurate. VERIFIED. 
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, Court Decisions, 
Internal Revenue Code, Congressional Committee Reports, Income Tax Regulations, Revenue Procedures, 
a...
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