Accounting c237 - Study guides, Class notes & Summaries

C237 Taxation I Study Plan Competency 3026.1.1: Federal Taxation – Chapter 1 Students should be familiar with the following:  Describe the history of taxation in the United States. o Civil war o Reinstated in 1894 o Ruled unconstitutional in 1895 (know why? – “direct tax and not apportioned to state population”) o 16th Amendment  Identify the sources of tax law. o Legislative – Internal Revenue Code, Tax Treaties, Congressional Reports. o Executive – Treasury Regulat...

Students should be familiar with the following:  Describe the history of taxation in the United States. o Civil war o Reinstated in 1894 o Ruled unconstitutional in 1895 (know why? – “direct tax and not apportioned to state population”) o 16th Amendment  Identify the sources of tax law. o Legislative – Internal Revenue Code, Tax Treaties, Congressional Reports. o Executive – Treasury Regulations (Final, Temporary, Proposed); Revenue Rulings, etc. o Judicial – Supreme ...

Pre-assessment 1. After reinstatement of the individual federal income tax in 1894, why was the tax challenged in the courts?  Revenue from taxes was no longer necessary because the Civil War was over  Administration would be difficult since the tax was apportioned in proportion to state populations  The preferred method of taxation was on business transactions as opposed to individual income tax 2. What is the highest level of legislative authority of tax law in the United States?...

C237 Taxation I Study Plan Competency 3026.1.1: Federal Taxation – Chapter 1 Students should be familiar with the following:  Describe the history of taxation in the United States. o Civil war o Reinstated in 1894 o Ruled unconstitutional in 1895 (know why? – “direct tax and not apportioned to state population”) o 16th Amendment  Identify the sources of tax law. o Legislative – Internal Revenue Code, Tax Treaties, Congressional Reports. o Executive – Treasury Regulat...