2010 CCH Comp Topics Ch01 - Click to edit Master subtitle...

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Unformatted text preview: Click to edit Master subtitle style CCH Federal Taxation Comprehensive Topics Chapter 1 Introduction to Federal Taxation 2009 CCH. All Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 1 800 248 3248 www.CCHGroup.com CCH Federal Taxation Comprehensive Topics CCH Federal Taxation Comprehensive Topics 22 of 11 Chapter 1 Exhibits 1. 4 Major Types of Federal Taxes 2. Tax Revenue Statistics 3. Tax Avoidance v. Tax Evasion 4. Brief History of Federal Income Tax 5. Tax Legislative Process 6. Objectives of the Tax Law Chapter 1, Exhibit Contents CCH Federal Taxation Comprehensive Topics CCH Federal Taxation Comprehensive Topics 33 of 11 4 Major Types of Federal Taxes 1. Income taxes u Individual income tax and corporate income tax . 2. Employment taxes u FICA Social Security, FICA Medicare and FUTA. 3. Estate and gift taxes u Taxes on transfers of property 4. Excise and custom taxes u Taxes on transactions (taxes on the purchase of alcohol) Chapter 1, Exhibit 1 CCH Federal Taxation Comprehensive Topics CCH Federal Taxation Comprehensive Topics 44 of 11 Tax Revenue Statistics Source % Total Revenue Avg. Rev. per Return Overall Audit Probability Tax Revenue ($s in billions # Returns (#s in millions) Individual Income Tax 50.76% $ 9,834 1.0% $1,366 138.9 Corporate Income Tax 14.7%14....
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This note was uploaded on 11/08/2010 for the course AC 553 AC 553 taught by Professor Perez during the Summer '09 term at Keller Graduate School of Management.

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2010 CCH Comp Topics Ch01 - Click to edit Master subtitle...

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