Essay - Tax Law and Accounting Everyone is familiar with Taxes because living in United States we all responsible for paying our Income Taxes So

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Tax Law and Accounting Everyone is familiar with Taxes because living in United States we all responsible for paying our Income Taxes. So the government can pay for such an expense school, roads, hospitals, the military, government employees, roads, hospitals, parks and etc. However, there is certain methods and standards everyone follows to pay their income taxes. In addition, few tax preparers are aware that difference exists between the Generally Accepted Accounting Principles and tax accounting, not to method the ramification of avoiding or evading to proper completing the reporting of income taxes. In this paper, I will discuss the modern tax law, history of tax law as TAX law, In United States every person, every company, or non-profit organization is subject to reporting Income Tax. Federal and State Government execute these taxes on any money earned each calendar year. Government tax our income so government can make revenue and pay for the things we all used in our common society. In order to comply with tax laws and regulations, a good understanding of the Federal tax law, its sources and purposes, and the relation with the accounting profession must be achieved Congress and the President of the United States are responsible for writing and approving our tax laws. Along with, the court system is also responsible in making tax law through decision about specific fact situations and the main tax courts are US Tax Court and District Courts of US who help government in implementing tax laws. IRS (Internal revenue Services) agency is responsible for enforcing the tax laws, for collecting taxes, for the processing tax returns or various other services provided by IRS. All the money collected from Taxes is turn to US Treasury and US Treasury is responsible for paying all the various government expense.
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This note was uploaded on 10/25/2010 for the course ACCOUNTING Acct taught by Professor Matthewd during the Spring '10 term at Western Washington.

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Essay - Tax Law and Accounting Everyone is familiar with Taxes because living in United States we all responsible for paying our Income Taxes So

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