What branch of government determines or creates the federal income tax?

What branch of government determines or creates the federal income tax?
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We're Not Legally Obligated to Pay State/Federal Income Tax? It is a voluntary tax?

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I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

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Do you believe that, during your lifetime, the current USA federal income tax (and the IRS) will be eliminated and replaced with a federal sales tax?

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Last Answer : The federal income tax is a progressive tax.

What online personal income tax software for both federal and state taxes can you recommend?

Description : What online personal income tax software for both federal and state taxes can you recommend?

Last Answer : I recommend online personal income tax software for both federal and state taxes, as well as software to help you file an extension if you need it.cutt.ly/JjWSDSE

Who would have more federal income tax withheld from emploee's paycheck with allowances?

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What will be the end result for the taxpayer who filed his federal income tax return using the 1040EZ form shown below?

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Am I required to file federal income tax forms?

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Where can I find federal income tax forms online?

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where can i pick up federal income tax forms?

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Last Answer : the forms will be available at the post office soon but if you can't wait or for some reason they don't have them soon you can get the forms from the IRS website. where can I pick up forms ? Perkins Ok. 2000,2001,2003,2004

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what was the of the federal income tax law in 1913, how many states were there, and how many states ratified the law?

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Where to find a federal income tax calculator for work at home people?

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Last Answer : you can find a tax calculator anywhere on line basically check out these websites they can help http://www.irs.gov/individuals/article/0,,id=96196,00.html"

Should I get a tax services company to help me fill out my federal income tax 1040 form?

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Which of the following is not a use of the federal income tax?

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Description : 4. Which of the following taxes is regressive? a. the federal income tax b. the state income tax c. the sales tax d. the Medicare tax

Last Answer : c. the sales tax

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What was the amendment to the U.S. Constitution approved in 1913 that allowed the federal government to collect a tax on the money that people earned?

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Last Answer : The 16th Amendment to the U.S Constitution allows the government to collect the Income Tax.Prior to this amendment, the federal government made an attempt to to create an Income Tax, and the tax was ... .In response, the Income Tax Amendment was added to the U.S Constitution, making the tax legal.

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What US government agency creates and enforces standards for workplace health and safety?

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Among the tax revenues of the Union Government, the most important source is – (1) Income Tax (2) Customs Duty (3) Corporation Tax (4) Union Excise Duties

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Last Answer : (4) Union Excise Duties Explanation: Central excise revenue is the biggest single source of revenue for the Government of India. The Union Government tries to achieve different socio-economic objectives by ... adopted by entry 84 of List I of the seventh Schedule of the Constitution of India.

Agricultural income tax is a source of revenue to - (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Governments

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Last Answer : (2) State Government Explanation: The Constitution of India allocates the taxation of agricultural income to states. Land revenue is a major source of revenue for states in India

What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

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Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.

Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Last Answer : (1) there is not direct relationship between the tax payer and the government. Explanation: The term indirect tax has more than one meaning. In the colloquial sense, an indirect tax (such as ... which is collected directly by government from the persons (legal or natural) on which it is imposed.

Which of the following taxes is not collected by the Central Government? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

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If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Last Answer : (3) low elasticity of demand Explanation: The Ramsey rule states that commodities with low elasticities of demand should be taxed at higher rates than commodities with high elasticities of demand. ... the Ramsey rule may result in a regressive taxation scheme society may view as inequitable.

Agricultural income tax is a source of revenue to— a. Central Government b. State Government c. Local Administration d. Centre and State Governments e. None of the above

Description : Agricultural income tax is a source of revenue to— a. Central Government b. State Government c. Local Administration d. Centre and State Governments e. None of the above

Last Answer : b. State Government

Which of the following types of auditing is performed most commonly by CPA's on a contractual basis? a. Internal auditing b. Income tax auditing c. External auditing d. Government auditing

Description : Which of the following types of auditing is performed most commonly by CPA's on a contractual basis? a. Internal auditing b. Income tax auditing c. External auditing d. Government auditing

Last Answer : External auditing

From the following deduction , which deduction from subsistence allowance is needed prior consent from suspended employee a. Deduction related with income tax b. Repayment of loans and advance taken from government c. Deduction related with PLI premium

Description : From the following deduction , which deduction from subsistence allowance is needed prior consent from suspended employee a. Deduction related with income tax b. Repayment of loans and advance taken from government c. Deduction related with PLI premium

Last Answer : c. Deduction related with PLI premium

Which among the following is the exclusive jurisdiction of the state government? a. Corporation tax b. Customs duty c. Sales tax d. Income tax

Description : Which among the following is the exclusive jurisdiction of the state government? a. Corporation tax b. Customs duty c. Sales tax d. Income tax

Last Answer : c. Sales tax

………………… is the personal income minus personal income tax and miscellaneous receipts of Government administrative departments. (a) Surplus income ; (b) Disposal income ; (c) Expendable income ; (d) Residual income

Description : ………………… is the personal income minus personal income tax and miscellaneous receipts of Government administrative departments. (a) Surplus income ; (b) Disposal income ; (c) Expendable income ; (d) Residual income

Last Answer :  (b) Disposal income ;

Personal disposable income is equal to …………………….. (a) Wages and salaries + Dividends paid at home – Personal income tax (b) Wages and salaries + Dividends paid at home + Factor income received from abroad – Personal income tax (c) Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax. (d) Wages and salaries + Dividends paid at home + Factor income received from abroad - Transfers from government – Personal income tax.

Description : Personal disposable income is equal to .. (a) Wages and salaries + Dividends paid at home - Personal income tax (b) Wages and salaries + Dividends paid at home + Factor income ... + Dividends paid at home + Factor income received from abroad - Transfers from government - Personal income tax.

Last Answer : (c) Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax.

Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments

Description : Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments

Last Answer :  State Government

Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Description : Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Last Answer : Professional tax 

What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods 

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc. 

Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Last Answer : there is not direct relationship between the tax payer and the government.

If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Last Answer : low elasticity of demand

Which one of the following is NOT an industrial product ? 1. oil to be refined into fuel for homes 2. transistors used as components for portable radios 3. paper, pens and glue used in bank branch offices 4. a marketing consultant who prepares marketing plants for clients 5. computer software to help people complete personal tax forms

Description : Which one of the following is NOT an industrial product ? 1. oil to be refined into fuel for homes 2. transistors used as components for portable radios 3. paper, pens and glue ... who prepares marketing plants for clients 5. computer software to help people complete personal tax forms

Last Answer : computer software to help people complete personal tax forms