SWFT Corp Partner Estates Trusts
42nd Edition
ISBN: 9780357161548
Author: Raabe
Publisher: Cengage
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The following are constitutional limitations on the power of taxation, except one: *
A. Public purpose
B. No imprisonment for non-payment of poll tax
C. Equal protection of law
D. Power of the President to veto items in a revenue bill
Which is an incorrect statement regarding taxes? *
a. Taxes are necessary for the continued existence of the government.
b. The obligation to pay tax does not rest upon the privilege enjoyed by or the protection afforded to the citizen of the government but upon the necessity of money for the support of the state.
c. There should be personal benefit enjoyed from the government before one is required to pay tax.
d. Taxes should be collected without unnecessary delay but its collection should not be tainted with arbitrariness.
e. Answer not given
What Issue do President Biden’s proposal have on the raise of corporate tax rate
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- Explain each of the following statements independently: a. Tax systems should be fair. b. The tax calculation will not be correct whenever income tax preferences exist. c. Fiscal policies are used to judge tax systems and achieve government objectives.arrow_forwardTRUE OR FALSE. 1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevail over Civil Code. 2. Taxes are voluntary contributions to the government. 3. Taxation is the government's legitimate means of interfering with the private properties of its subject. 4. Tax laws are given retroactive effect 5. As a rule, doubts as to imposition must be resolved liberally in favor of the government. 6. An aspect of tax power that could be delegated to the President covers both legislative and administrative discretion. 7. The power of judicial review in taxation is limited only to the interpretation and application of tax laws. 8. No law granting any tax exemption shall be passed without the concurrence of the two-thirds of the members of the Congress present. 9.The primary requisite of equity principle is that each taxpayer should be required to contribute equal amounts in the form of taxes. 10. All government entities regardless of their functions are exempted…arrow_forwardWhich of the following is not a goal of the tax law? a.Economic goals such as reduction in unemployment. b.Raise adequate revenue to operate the government. c.Social goals such as lowering the cost of adoption. d.Ensuring that all persons pay the same amount of tax.arrow_forward
- Is it acceptable or unacceptable for government tax enforcers to interact with tax accounting professionals?arrow_forwardDoes the concept of a progressive (and fair) tax system become undermined by the ability to tweak the Tax Code to suit Congress' purposes in terms of driving social policy?arrow_forwardThe government should tax itself? Yes or noarrow_forward
- The power to tax is provided for by the Constitution, the National Internal Revenue Code, Special Laws, and administrative revenue issuances. Group of answer choices True Falsearrow_forwardExplain the main differences between tax evasion and tax avoidance and list the main actions taken by governments to reduce/eliminate them?arrow_forwardIs it appropriate or inappropriate for government tax enforcement officials to socialize with tax accounting professionals?arrow_forward
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