Chapter 2: Tax Compliance, the IRS, and Tax Authorities
1) Identify the filing requirements for income tax returns and the statute of
limitations for assessment.
2) Outline the IRS audit process, how returns are selected, the differen
Chapter 1: An Introduction to Tax
1) Demonstrate how taxes influence basic business, investment, personal, and
2) Discuss what constitutes a tax and the general objectives of taxes.
3) Describe the difference tax
o Income Taxes
The most significant tax assessed by the government. Represents approx. 60% of
all tax revenues collected in the US.
Levied on individuals, corporations, estates, and trusts.
o Employment and unemployment taxes