Question
Pearson Federal Taxation 2017 chapter1. 1. Carmen has computed that her average tax rate is 16% and her marginal tax rate is 25% for the
Pearson Federal Taxation 2017 chapter1.
1. Carmen has computed that her average tax rate
is 16% and her marginal tax rate is 25% for
the current year. She is considering whether to
make a charitable contribution to her church before
the end of the tax year. Which tax rate is of
greater significance in measuring the tax effect
for her decision? Explain.
2. Indicate which of the following taxes are generally
progressive, proportional, or regressive:
a. State income taxes
b. Federal estate tax
c. Corporate state franchise tax
d. Property taxes
e. State and local sales taxes
3. The primary objective of the federal income tax
law is to raise revenue. What are its secondary
objectives?
4. What types of taxpayers are more likely to be
audited by the IRS?
5. Congressman Patrick indicates that he is opposed
to tax proposals that call for a flat tax rate because
the structure would not tax those individuals who
have the ability to pay the tax. Discuss the position
of the congressman, giving consideration to
tax rate structures (e.g., progressive, proportional,
and regressive) and the concept of equity
I1-5, I1-10, I1-15, I1-29, I1-3 1. Carmen has computed that her average tax rate is 16% and her marginal tax rate is 25% for the current year. She is considering whether to make a charitable contribution to her church before the end of the tax year. Which tax rate is of greater significance in measuring the tax effect for her decision? Explain. 2. Indicate which of the following taxes are generally progressive, proportional, or regressive: a. State income taxes b. Federal estate tax c. Corporate state franchise tax d. Property taxes e. State and local sales taxes 3. The primary objective of the federal income tax law is to raise revenue. What are its secondary objectives? 4. What types of taxpayers are more likely to be audited by the IRS? 5. Congressman Patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. Discuss the position of the congressman, giving consideration to tax rate structures (e.g., progressive, proportional, and regressive) and the concept of equityStep by Step Solution
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