Explain the pros and cons of the irs having a public list

Assignment Help Accounting Basics
Reference no: EM132622463

Problem 1: States and local jurisdictions are learning that the threat of public humiliation can be rewarding. When someone owes taxes but does not pay, the prospect of having his or her name listed on a public website may make a difference. Often payment is made to avoid the cybershame that comes from being exposed as a tax deadbeat. Numerous states are publishing the names of tax delinquents online. Some taxing jurisdictions have found the shaming procedure so productive that they maintain separate lists for different types of taxes. As of yet, the IRS has not considered this approach for Federal tax scofflaws. Consider the pros and cons of the IRS having a public list of individuals who owe taxes. Do you think this is a good idea or not? Explain your reasoning.

Reference no: EM132622463

Questions Cloud

Define setting for focus group including geographic location : Describe the setting for the focus group including geographic location, demographic profile, social setting, and number in the sample.
Discuss how legislative branch affects tax law : Discuss how legislative branch affects tax law. Discuss the specifics documents that are generated by this branch and how they contribute to tax law
What is the record correction of rent received in advance : What is the record correction of rent received in advance? On the last day of 2020, Midwest Importers received a $85,000 prepayment from a tenant for 2021
What will the paid in surplus account balance be : The company just announced a 2-for-1 stock split. What will the paid in surplus account balance be after the split
Explain the pros and cons of the irs having a public list : Consider the pros and cons of the IRS having a public list of individuals who owe taxes. Do you think this is a good idea or not? Explain your reasoning.
Determine the character of the gain for each transaction : Peyton & Eli, Inc. have unrecaptured Section 1231 losses of $15,000 during the preceding 5-year period. Determine the character of the gain for each transaction
Principal place of business in california : Ewing Oil Corp., is a Delaware corporation with its principal place of business in California.
What happens to the demand and supply of botswana pulas : What happens to the demand and supply of Botswana Pulas from the view of South African investors when the South African interest rate
What would you consider the leading health indicator : Investigate a vulnerable population within your local community. The population in this question can be the one you have chosen for your health promotion.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What amount of short-term debt could be excluded

If stock is sold for $25 per share subsequent to balance sheet date, but before the balance sheet is issued, what amount of short-term debt could be excluded

  Statement regarding primary authority of tax law

Which of the following is a true statement regarding primary authority of tax law?

  Hanna railroad co is about to issue 277000 of 9-year bonds

hanna railroad co. is about to issue 277000 of 9-year bonds paying a 12 interest rate with interest payable

  Effect of amendment to plan

Pensions When should the cost of providing pension benefits to the employees by expensed? A. As the contributions are made to the plan B. As the employee works C. As the benefits are paid to employees How should the effect of amendment to a plan b..

  Prepare the consolidated worksheet entries

ACC705 Corporate Accounting-Prepare a statement of profit or loss and other comprehensive income for Samoa Ltd, for the year ended 30 June 2016, and notes to the accounts in compliance with AASB 101. Please classify expenses by function.

  Find the four false statements

Four of the following eight statements are patently false. Find the four false statements. The other statements are true

  What was the amount of cash payments to stockholders

What was the amount of cash payments to stockholders during the year?Determining Cash Payments to Stockholders at the end of the year.

  What are the seven excellent way to attract new costumer

Discuss and explain that What are the 7 excellent way to attract new costumer in term of your business goal? elaborate in details

  Partnership for federal income tax purposes

Is the plant a partnership for federal income tax purposes?

  Orange co sold red co merchandise on account fob shipping

orange co. sold red co. merchandise on account fob shipping point 110 net 30 for 11021. orange co. prepaid the 295

  Would you select preferred stock as an investment

Why preferred stock is referred to as preferred and what some of the features added to preferred stock are that make it more attractive to investors. Would you select preferred stock or common stock as an investment? Why?

  Discuss hartford research issues bonds dated january

Hartford Research issues bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd