Which is NOT a proper exercise of administrative feasibility? a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS) b. Payment of tax thru credit/debit/prepaid cards/G-Cash c. Requirement to all taxpayers to file tax returns d. Substituted Filing of Qualified Compensation Income Earner

Q: What work do tax accounting professionals perform in addition to preparing tax returns?

A: Accounting is an important aspect for any business. Without proper accounting, the business owners…

Q: I. A withholding tax system is one in which the payment of income tax is paid upon the receipt of…

A: Withholding tax: The payer of income withhold certain percentage from the income of the payee and…

Q: report expenses using correct tax categories because

A: The accountants have to report expenses under correct categories always.

Q: What is the goal of a tax audit? A. To make sure you paying your imposed fines  B. To make sure…

A: Tax audit means audit of the information provided in tax returns like income and expenditure are…

Q: Assuming that you were a tax consultant of a certain company, discuss the specific provisions of the…

A: Tax Planning: Tax planning is the investigation of a monetary circumstance or plan to guarantee that…

Q: Why is tax policy considered to be a blunt instruction?

A: Tax : Governments levy taxes on residents to create revenue for projects that would strengthen the…

Q: The purpose of an inter-period income tax allocation is to    a. Allow reporting entities to fully…

A: Tax is the amount which an individual or business is liable to pay the government for business…

Q: Tax experts believes that tax planning tools puts the control of when to pay in the hands of…

A: Introduction Tax Planning is an act of arranging and managing transactions in such a way that, tax…

Q: Regarding taxpayers having a tough time of volume of tax regulations. What does the concept…

A: Substance over form: It is an accounting concept, which means that the business must record those…

Q: A major responsibility of the Government Accountability Office is to audit taxpayers’ returns to…

A: The GAO (Government Accountability Officer) serves as a congressional watchdog over government…

Q: What’s the difference? Explain to Laura how differences between financial reportingstandards and…

A: Accounting income reported in accordance with financial reporting standards and taxable income under…

Q: Explain why administrative and compliance costs of taxation is important regarding taxation? What…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: the difference between “tax evasion”, “tax avoidance”, and “tax planning”.

A: The differences for terms tax evasion,tax avoidance and tax planning are shown below

Q: Which one of the following deductions is available under S25-5 ITAA97 (Tax related expenses) Choose…

A: According to Income Tax Assessment Act 1997 - SECT 25.5 following tax related expenses deductions is…

Q: Which of the following methods is not allowed for tax purposes if FIFO (first in first out) is used…

A: Under FIFO(First in, First Out) method, inventories purchased first are assumed to be sold first.…

Q: he burden of proof, as a general rule The Minister of Finance The tax commissioner The taxpayer's…

A: The burden of proof: It states that an individual or any related party to that individual has the…

Q: Under what responsibility would investigating tax fraud be? tax accounting, Financial Accounting, or…

A: Tax fraud is a type of deception by misrepresenting or suppressing taxable income to evade or reduce…

Q: What are the available commercial and noncommercial tax resources that you could utilize as a tax…

A: Hi student Since there are multiple sub parts in this question, we are answering only first three…

Q: Propose a tax measure in order for the government to eaarn addtional revenue with emphasis ont he…

A: Since you have asked two questions but we provide solution to one question only kindly resubmit…

Q: Which of the following is a compliance tool the IRS utilizes to address the tax gap?   Compliance…

A: Tax gap is the amount of tax which is computed by subtracting the tax paid by the tax payer from the…

Q: Discuss to what extent deferred tax accounting can be used for income smoothing.

A: Deferred tax is referred as an income taxes for the tax on the losses or profits of the company…

Q: appropriate data into the tax-accounting program. What are the values of B, n, and S in depreciating…

A: B = Purchase price + Transportation cost + Installation cost  S = 10% of purchase price  n =…

Q: CPAs act as, among other things, paid tax return preparers for their clients. What does SSTS No. 1…

A: Standards for tax services are the standards that describe the responsibilities that CPA’s have…

Q: In relation to accounting for income taxes, which one of the following statements is correct? a.…

A: Solution: "Tax expense is the sum of current tax expense plus deferred tax expense" this statements…

Q: a. Identify whether each of the above payments by PSB to APL are subjected to withholding tax. Give…

A: Tax withholding can be defined as the amount of tax being paid by the taxpayer to the government…

Q: With the intention of limiting contact by taxpayers when dealing with the BIR and at the same time…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: Is it appropriate or inappropriate for government tax enforcement officials to socialize with tax…

A: Every individual and company is liable to pay tax to the government. But the individual and company…

Q: Which cost flow assumption must be used for financial reporting if it is also used for tax…

A: Financial reporting: Financial reporting is a typical accounting procedure in which financial…

Q: An income tax is an example of which of the following? Derived tax revenue. Imposed nonexchange…

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: tax accounting,

A: Accounting refers to the process of recording and summarizing all the business and financial…

Q: List examples of temporary differences that create: deferred tax assets deferred tax liabilities.

A: Temporary difference between the tax base and carrying amount arise on account of difference in the…

Q: describe the diff erences between accounting profi t and taxable income, and defi ne key…

A: The temporary difference between taxes as per accounting income and taxes asper tax regulation is…

Q: What do these four phrases regarding taxes mean? (a) Payroll withholding (b) difference between…

A: Taxation: For the purposes of this definition, taxation is the imposition of mandatory charges on…

Q: What are some of the issues the tax preparer should discuss with this client?

A:

Q: ll be a tax

A: Tax refers to the percentile charges imposed by the authoritative government over the income gained…

Q: RUE OR FALSE? Tax assessments made by the BIR must be in writing containing the law and facts as…

A: Taxation- Taxation refers to the imposition of a tax on persons and other types of organizations, as…

Q: 1. Explain the accrual basis and cash basis. How can apply these two basis for the components…

A: The accounting basis is used for recognizing the income and expenses.

Q: Which of the following is not an administrative remedy available to the government?

A: Answer: C.  Tax Avoidance

Q: What is the difference between tax rates and tax rate structures? How does this notion of…

A: Income tax payable is an obligation for the tax payers to the government on the taxable income.…

Q: Settled is the rule that in tax matters, the government is not estopped by the errors or mistakes…

A: Taxes Taxes are the compulsory obligations imposed by the government agency on individuals and…

Q: nd or

A: What Is a Tax Refund? Tax refunds usually call for a celebration. But in reality, they often mean…

Q: The following needs to explain further the steps in determining the income tax. Jse the space…

A: SOLUTION-    TAX IS A COMPULSORY FINANCIAL CHARGE OR SOME OTHER TYPE OF LEVY IMPOSED ON A TAX PAYER…

Q: Under what circumstances would the Commissioner-General of Ghana Revenue Authority may, by notice,…

A: Solution- What are the compliance requirements for tax returns in Ghana? Residents and non-residents…