Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Tax Revenues
The author of this report is tasked with describing how to compensate and direct the tax collectors of Elbonia to increase tax collections in a way that is effective and compensates the tax collectors commensurate with the work they are performing and the dollars that they are bringing in. The author of this report will offer a few options that will probably help a lot and a lot of them have little to do with what the collectors are doing wrong and more to do with why the tax collections are paltry in the first place.
Suggestions
First, it should be ascertained the real reason why the tax collections are fledgling. A lot of the reasons that tax revenues falter would have to be fixed through policy maneuvers at the governmental level or even just a bit of patience because getting blood from a turnip is just not possible. If the economy is on the rocks...
Another possibility is that there are loopholes or other gaps in the current rules and tax laws that are being exploited.
One example of this in action would be large employers in the United States who are intentionally hiring people to work just under 30 hours a week so that they don't realize the increased expenses (and taxes) of having to offer them health benefits. It is not a completely analogous example but one gets the idea that tax laws could be exploited the same way (Myers & Mears, 2013). A more applicable example would be people that incorporate as a sub-chapter S corporation in the United States so as to avoid FICA taxes on a lot of the earnings of the business and that only leaves federal and state taxes (Reilly, 2013).
As for what collectors can do, they can offer an amnesty program to first- (or even second-) time offenders so that they can reduce or even eliminate penalties and/or interest or even some of the original tax bill. However, repeat offenders should not be offered this as they will keep using that trick as much as…
References
Myers, L., & Mears, C.A. (2013, August 13). Businesses claim Obamacare has forced them to cut employee hours - Investigations. Investigations. Retrieved September 17, 2013, from http://investigations.nbcnews.com/_news
/2013/08/13/20010062-businesses-claim-obamacare-has-forced-them-to-cut-employee-hours-lite
Reilly, P. (2013, August 25). S Corporation SE Avoidance Still A Solid Strategy
Forbes. Information for the World's Business Leaders - Forbes.com. Retrieved September 17, 2013, from http://www.forbes.com/sites/peterjreilly/2013/08/25/s-corporation-se-avoidance-still-a-solid-strategy/
Thus, the per capita tax revenue is presented in Table 5. Table 5: Ratio: Per Capital Tax Revenue ($Million) New York Activities 2010 2009 Tax Revenue $58,039 $55,804 Total Population 19,378,102 19,378,102 Ratio: Per Capital Tax Revenue $2,995: 1 $2,880: 1 Pennsylvania Tax Revenue $28,300 $27,600 Total Population 12,702,379 12,702,379 Ratio: Per Capital Tax Revenue $2,228:1 $2,173:1 The findings from table 5 reveal that both states record increase in per capital tax revenue at the end of the fiscal years 2009 to 2010. In the New York, the government realizes ratio of $2,880 per
With regard to the salaried people the federal tax system has improvised a method to flush the surplus spending funds in advance by the mandatory provision of requiring employers to withhold tax from payments in advance which on remitting will be computed as part of the total tax liability of the employee. This method of advance collection is an important feature said to be the pillar of the tax
Tax Law The author of this report is asked to answer a set of four questions relating to tax law and its sources/adjudication. The first question asks what the primary sources of tax law are. The second question asks what the secondary sources of tax law are. The third questions asks what "substantial authority" is as it relates to tax law. The final question asks what the role of the courts
There are ten Fraud Detection Centers across the United States, and these are meant to detect refund fraud and to identify prevention measures. Each of these offices has a Resident Agent in Charge to direct, monitor, and coordinate operations supporting electronic and paper tax filing, and each Center performs activities that include educating Submission Processing Center and Customer Service Center personnel on fraud awareness and detection. Criminal investigation in the agency
Public finance is an area of study that has received a great deal of attention throughout the years. In recent years public finance has become more of a critical issue because of the economic recession that has plagued the country. There are various methods of public finance that exist and remain as a popular way for local and state governments to raise revenues. For the purposes of this discussion the
Dropping or Lowering Corporate Taxes This is a paper with two charts concerning corporate taxes. Corporations are taxed under a tax rate structure depending on the income. There has been talk about dropping the corporate tax. This paper will discuss the pros and cons of this. What methods can be used to drop or lower corporate taxes and why? HOW CORPORATE TAXES HELP OUR ECONOMY Where did the corporate income tax begin?