Multiple Choice
Using the following choices, show the justification for each provision of the tax law listed.
a. Economic considerations
b. Social considerations
c. Equity considerations
d. Both a. and b.
-Discriminant Index Function (DIF)
A) Deferral of gains from involuntary conversions
B) Carryforward of net operating losses
C) "No change" is a possible result
D) State income tax applied to a visiting nonresident
E) IRS special agent
F) Undoing the "piggyback" result
G) Ideal budget goal as to new tax legislation
H) Every state that has a general sales tax has one
I) Imposed by all states and the Federal government
J) Imposed by some states but not the Federal government
K) Imposed only by the Federal government
L) No correct match provided
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Match the statements that relate to each
Q2: No state may offer an income tax
Q4: The amount of a taxpayer's itemized deductions
Q5: The annual exclusion, currently $15,000, is available
Q6: Using the following choices, show the justification
Q7: Match the statements that relate to each
Q8: If more IRS audits are producing a
Q9: If a tax deficiency is attributable to
Q10: The United States (either Federal, state, or
Q11: The Federal income tax on individuals generates