"A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization..."
Tax procedure and administration covers the procedural and administrative aspects of tax law, including audits, appeals, collection procedures, and tax litigation. This topic is important for students who plan to work for the IRS or in tax litigation.
Taxation principles: A general overview of the concept of taxation and the principles that govern it.
Types of taxes: An explanation of different types of taxes such as income tax, sales tax, property tax, etc.
Taxpayer identification number: Information about the federal identification number system used in the US to identify businesses and individuals alike.
Tax returns: A detailed analysis of the process of filing tax returns, including forms, deadlines, and penalties.
Deductions: An overview of deductions, which allows taxpayers to reduce their taxable income, resulting in lower tax charges.
Credits: Providing an explanation of credits, which are tax reductions that are directly applied to the tax owed.
Tax audits: An examination of the process that agents from the Internal Revenue Service (IRS) utilize to ensure tax compliance.
Tax procedures: Explanation of what to do when you receive a tax notice or are audited, including how to file a Notice of Disagreement.
Tax liabilities: Detailed discussion of the different forms of tax liabilities that businesses and individuals face.
Tax planning: Strategies centered on legally minimizing the amount of tax paid over time.
State taxes: Detailing state-level tax laws, including different laws and tax rates in different states.
International taxation: The laws regulating taxation of non-US citizens earning income within the US.
Tax treaties: The legal agreements that govern the tax treatment of foreign individuals and organizations in different countries.
Estate and gift taxation: The laws governing the taxation of inheritance or gifts given to heirs.
Tax penalties: The various penalties charged for failure to comply with tax laws.
Tax disputes: An overview of tax litigation, including administrative appeal and court procedures.
Tax accounting: Means of accounting and recording transactions to determine the correct tax amount that an individual/business owes.
Tax-exempt entities: Information about charitable organizations and other tax-exempt entities.
Tax reform: Analysis of proposals for tax system changes, including the status of current reform efforts.
Tax evasion: Explanation of the penalty, penalties, and legal consequences of tax evasion, which is avoiding paying owed taxes.
Tax assessment: The process by which authorities calculate the tax liability of a taxpayer.
Tax collection: The process by which authorities collect taxes from taxpayers.
Tax audit: A review of a taxpayer's financial documents and accounting records to ensure that they comply with tax laws.
Tax appeal: A process by which taxpayers can challenge tax assessments or other actions taken by tax authorities.
Tax filing: The process of submitting tax returns and related documents to tax authorities.
Tax enforcement: The use of legal remedies to compel compliance with tax laws, including penalties, fines, and criminal charges.
Tax evasion investigation: A formal criminal investigation into allegations of tax evasion.
Tax fraud investigation: A formal criminal investigation into allegations of tax fraud.
Tax lien: A legal claim against property, assets, or income to secure payment of tax debts.
Tax planning: The process by which individuals and businesses structure their financial affairs to minimize taxation legally.
"Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief."
"The first known taxation took place in Ancient Egypt around 3000–2800 BC."
"All countries have a tax system in place, in order to pay for public, common societal, or agreed national needs and for the functions of government."
"Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of annual income amounts."
"Countries or subunits often also impose wealth taxes, inheritance taxes, estate taxes, gift taxes, property taxes, sales taxes, use taxes, environmental taxes, payroll taxes, duties and/or tariffs."
"This has effects on economic growth and economic welfare that can be both increased (known as fiscal multiplier) or decreased (known as excess burden of taxation)."
"...others such as libertarians and anarcho-capitalists are anti-taxation and denounce taxation broadly or in its entirety, classifying taxation as theft or extortion through coercion along with the use of force."
"Within market economies, taxation is considered as the most viable option to operate the government (instead of widespread state ownership of the means of production), as taxation enables the government to generate revenue without heavily interfering with the market and private businesses..."
"Certain countries function as tax havens by imposing minimal taxes on the personal income of individuals and on corporate income. These tax havens attract capital from abroad whilst resulting in the loss of tax revenues within other non-haven countries (through base erosion and profit shifting)." Quotes from the paragraph have been included immediately after each question.