Explain the dreaded tax returns

Assignment Help Finance Basics

Reference no: EM131489671

Question: Dreaded Tax Returns

Buried in Paper

Every spring, you can tell it's close to the April 15 tax deadline by the anxious faces of frustrated taxpayers and exhausted accountants. The U.S. tax system is one of the most complicated in the world, with almost 17,000 pages of tax code and more than 600 forms. Record keeping, education, and compliance cost the nation $265 billion annually. In 2005 it took about 115,000 Internal Revenue Service (IRS) employees and almost $10.7 billion to collect about $1 trillion from 125 million taxpayers and 7 million businesses.

Reference no: EM131489671

Questions Cloud

What are the pros and cons of user fees for national parks : User Fees User fees have been compared to taxes based on the benefit principle of taxation. Define user fees in your own words.

What can you use from the analysis to help you be a manager : What can you use from this analysis to help you be a better manager? How does one particular leadership model interact with the most important performance?

Describe the components of a healing hospital : Describe the components of a healing hospital and their relationship to spirituality. Include biblical aspects that support the concept of a healing hospital

Write paper that analyzes the story of ivan illych : Write a 750-1,000 word paper that analyzes the story of Ivan Illych in terms of concepts of the "healing environment"

Explain the dreaded tax returns : Every spring, you can tell it's close to the April 15 tax deadline by the anxious faces of frustrated taxpayers and exhausted accountants.

Standardized with contaminated sodium carbonate : If a hydrochloric acid solution that was standardized with contaminated sodium carbonate was used in part 2 of this lab

Hydrochloric acid in aqueous solution : Write and balance a chemical equation that describes the reaction of Cu(NH3)4SO4 * H20 with hydrochloric acid in aqueous solution.

Determine the balanced cell reaction : Determine the balanced cell reaction and calculate the potential of the cell. Enter in volts. (assume a temperature of 25°C)

Explain the significance of payroll withholding statement : Explain the significance of payroll withholding statement, accelerated depreciation, investment tax credit, alternative minimum tax, capital gains, flat tax.

User Account

All Pages