Ans. 1 As per the rules and regulations in the Internal revenue service the allegation led by the company on the client, in the first case of unreasonable compensation The person's reward must be accepted in proceed by an "certified body." This can be the whole of a committee of the board, board of directors, or persons authorized by the board or other persons to act on its part. Thus, it is not obligatory to have the complete board agree the deal. It can be permitted by a board selected for the
Words: 1461 - Pages: 6
Facts Charley Long, a truck driver, works for a seafood company in Mobile, Alabama. Charley helps to deliver fresh seafood to customers from Mobile with the company’s truck. Charley leaves Mobile every weekday at 4:00pm and arrives his last stop at 12:00 midnight. It’s up to Charley whether to drive straight back or spend a night along the road as Charley’s company doesn’t reimburse any his lodging and food expense. Charley sometimes sleeps in his cab in which is equipped with sleeping facilities
Words: 945 - Pages: 4
motivation of tax payers Tax compliance has been linked heavily with deterrence as the most important compliance-increasing factor but now a days importance of tax morale is being considered as intrinsic motivational toll for the honestly pay taxes. Tax morale , however, depends on the positive interaction of individual taxpayers and the taxing authority through fiscal exchange in a broader arena . Fiscal exchange, for example, may involve adequate provision of public services for the tax payers rather
Words: 3934 - Pages: 16
ignoring distribution paradoxically will hurt growth itself. Therefore, the author says that government has to do something to reduce the level of inequality. Thomas Piketty suggests strengthening progressive tax. But I have some doubts about it. First one is that it isn't that easy to start the tax system, because it is a highly political issue. Second, it is very hard to decide the optimal level of distribution. We don't know where is a balance between growth and distribution. Lastly, I agree that companies
Words: 340 - Pages: 2
Most people want taxes to be fair. Yet there are strong disagreements over what constitutes tax equity. The concerns result from the different types of taxes and how they affect different groups of people differently. For example, sales taxes proportionally affect the “have-nots” more than the “haves,” the income taxes proportionally affect the “haves” more than other groups and the real estate taxes mostly affect the retired taxpayers. The groups that I identified above would naturally
Words: 303 - Pages: 2
Tabacco Products, Application for Registration Real Property * Real Property Tax Exemption Application for Tax Concession * Real Property, Assessment of Social Welfare Services * Emergency Relief Guarantee Programme Travel and Transportation * Customs Duty Exemption for the importation of a New Vehicle to be used within the transportation industry eServices * Real Property Tax, Payment of * Vendor Inquiry There are many jobs that you can obtain in the Ministry
Words: 595 - Pages: 3
Administration University of Chittagong (2013-2014) Bangladesh gets biggest budget in history of 2.22 trillion taka with estimated expenditure at 18.7% of GDP for 2013-2014 fiscal year. Planning to fetch 1.41 trillion taka as tax revenue and 262.40 billion taka as non-tax revenue. The overall budget deficit was estimated at 550.3 billion taka or 4.6 per cent of the GDP while Muhith proposed that the deficit financing would be met through foreign loans and domestic borrowings. The proposed budget
Words: 728 - Pages: 3
and "recognized gain". Realized gain computes the profit taxable and the tax to be paid on it. It is the profit from sale of an asset at higher price then the original purchase price of that asset. It is a gain created from a transaction. Whereas, recognized gain creates a liability of tax. It is the same as realized gain less any exclusion from gain, if any. Therefore, it is a part of realized gain that is recognized for tax purpose. Any loss from the same can be set off with the loss of another
Words: 641 - Pages: 3
Atkinson Over-Arching Issues By A B Atkinson Global Public Economics by J A Mirrlees National Taxation, Fiscal Federalism and Global Taxation by R Boadway* Environmental Taxation and Revenue for Development by A Sandmo* Revenue Potential of the Tobin Tax for Development Finance: A Critical Appraisal by M Nissanke* A Development-Focused Allocation of the Special Drawing Rights by E Aryeetey* The International Finance Facility Proposal by G Mavrotas* Private Donations for International Development by
Words: 20039 - Pages: 81
The purpose of this tax research problem is to solve the following scenario presented by Rupert, Pope, & Anderson: “Mark Hancock is a self-employed attorney who operates his law practice as an unincorporated sole proprietorship. In 2012, the IRS disallowed several business deductions he took in 2010 and 2011. In addition to paying the deficiency and assessed penalties, he also pays $18,000 in interest on the tax owed. Can he deduct that interest in the current year?” (p. 7-45). This is a highly
Words: 701 - Pages: 3
