SOUTH-WEST..ESSEN.OF TAX.2020-TEXT
23rd Edition
ISBN: 9780357109199
Author: Nellen
Publisher: CENGAGE L
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When taxes are "too high", taxpayers start to cheat on their taxes and dangerous consequences can result.
The money you receive back because you have overpaid your taxes is called a tax return.
a. true
b. false
If our taxes only go to fake sand or corruption, why do we have to pay taxes?
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- Tax evasion is defined as a willful attempt to defraud the government. What are some examples of an attempt to commit fraud? In many cases, there is a fine line between tax avoidance and tax evasion. In a situation where the distinction between the two is not clear, professional judgment must be used. Other tools can also be used. What tools can be used to distinguish between tax avoidance and tax evasion?arrow_forwardNo tax talk, please: Why do many people avoid the topics of taxes more than other areas of personal financial planning?arrow_forwardTrue or false: After calculating your income taxes, you may find yourself owing to the IRS instead of getting a refund?arrow_forward
- Which of the following will be considered as tax evasion? Reducing tax by paying gift aid donations Reducing tax by buying an electric car so that first year allowance is claimed By not declaring a source of income and the actual income intentionally By utilizing a loophole in the tax system without violating the tax lawarrow_forwardRegarding taxpayers having a tough time of volume of tax regulations. What does the concept "substance over form" mean? Are there any examples?arrow_forwardWhat is the goal of a tax audit? A. To make sure you paying your imposed fines B. To make sure you are paying your taxes C. To investigate criminal activity D. Nonarrow_forward
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