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CHAPTER 1 AN INTRODUCTION TO TAXATION AND UNDERSTANDING THE FEDERAL TAX LAW SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Effect of state and local taxes on decision making Unchanged 1 2 History of Federal income tax Unchanged 2 3 Constitutionality of Federal income tax for corporations Unchanged 3 4 Codification of the tax laws Unchanged 4 5 Pay-as-you-go system Unchanged 5 6 Criteria for “good” tax system New 7 Proportional versus progressive tax New 8 Issue ID Unchanged 8 9 Issue ID New 10 Issue ID New 11 Ad valorem tax on realty: effect of tax holiday Unchanged 11 12 Ad valorem tax on realty: effect of construction cost Unchanged 12 13 Ad valorem taxes: taxpayer compliance Unchanged 13 14 Excise taxes: hotel occupancy and car rental Unchanged 14 15 Issue ID Unchanged 15 16 State and local sales tax holidays Unchanged 16 17 Issue ID Unchanged 17 18 Issue ID Unchanged 18 19 General sales tax: avoidance and the use tax Unchanged 19 20 Inheritance and estate taxes compared Unchanged 20 21 Federal estate tax: effect of marital and charitable deduction Unchanged 21 1-1
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1-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 22 Cumulative nature of the Federal gift tax Unchanged 22 23 Federal gift tax and use of annual exclusions Unchanged 23 24 Justification for annual exclusion Unchanged 24 25 Justification for the Tax Relief Reconciliation Act of 2001 purported treatment of estate and gift taxes Unchanged 25 26 Current status of Federal estate and gift taxes New 27 Income tax formula: individuals and corporations compared New 28 Issue ID Unchanged 28 29 Piggyback approach of state income taxes Unchanged 29 30 Correlation of Federal and state income tax rules and audit procedures Unchanged 30 31 State income tax: characteristics Unchanged 31 32 FICA and FUTA contrasted Unchanged 32 33 FICA: maximum amount of tax Unchanged 33 34 FICA and employment of one spouse by another: coverage of children Unchanged 34 35 FUTA: effect of state merit rating Unchanged 35 36 Flat tax: justification for and obstacles to Unchanged 36 37 VAT versus national sales tax: expected taxpayer compliance compared Unchanged 37 38 Tax problems of cash basis taxpayers with high employment turnover Unchanged 38 39 Assessing risk of audit by the IRS New 40 IRS audit: characteristics of Unchanged 40 41 Statute of limitations: IRS assessments New 42 Interest on tax refunds New 43 Statute of limitations and substantial omissions; ethical considerations of tax return preparer Unchanged 43 44 Penalties for failure to file and failure to pay Unchanged 44 45 Tax practice and ethical guidelines: statute of limitations Unchanged 45 46 Tax practice and ethical guidelines New 47 Revenue neutral tax reform New 48 Multiple justification for several tax provisions New 49 Justification for various tax provisions Modified 49 50 Mitigation of the effect of double taxation of the
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This note was uploaded on 03/14/2010 for the course ACC 11101 taught by Professor Sun during the Spring '10 term at Abraham Baldwin Agricultural College.

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