1. What does "Voluntary Compliance" mean?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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1. What does "Voluntary Compliance"
mean?
2. Explain the "tax gap."
3. Explain the difference between tax
avoidance and tax evasion.
4. Explain the 5 Badges of Fraud:
5. Walk a tax bill through Congress, from
the first step to enactment. Include
where/how/if there are differences.
6. Explain the rationale behind Federal
Income Tax.
7. Explain the doctrine of Assignment of
Income.
8. Explain the difference between a
realized gain v. a recognized gain.
9. Explain "constructive receipt."
10. Explain "substance over form."
11. Explain the "wherewithal to pay"
concept.
Transcribed Image Text:1. What does "Voluntary Compliance" mean? 2. Explain the "tax gap." 3. Explain the difference between tax avoidance and tax evasion. 4. Explain the 5 Badges of Fraud: 5. Walk a tax bill through Congress, from the first step to enactment. Include where/how/if there are differences. 6. Explain the rationale behind Federal Income Tax. 7. Explain the doctrine of Assignment of Income. 8. Explain the difference between a realized gain v. a recognized gain. 9. Explain "constructive receipt." 10. Explain "substance over form." 11. Explain the "wherewithal to pay" concept.
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