Chapter 1 An introduction to Taxation
Chapter 1 An Introduction to Taxation
Learning objectives Discuss the history of taxation Differentiate between three types of tax rate structures Describe the various types of taxes o Discuss what constitutes a good tax structure o Describe the tax entities in the federal income tax system
Learning Objectives • Discuss the history of taxation • Differentiate between three types of tax rate structures • Describe the various types of taxes • Discuss what constitutes a “good” tax structure •Describe the tax entities in the federal income tax system
Learning objectives Identify the various tax law sources and understand their implications for tax practice Describe the legislative process for the enactment of the tax law Describe administrative procedures under the tax law Describe the components of a tax practice and understand importance of research process and computer applications in taxation
Learning Objectives • Identify the various tax law sources and understand their implications for tax practice • Describe the legislative process for the enactment of the tax law • Describe administrative procedures under the tax law • Describe the components of a tax practice and understand importance of research process and computer applications in taxation
History Of Taxation In The United states First Federal Income tax in 1861 ● Reinstated in 1894
History Of Taxation In The United States • First Federal Income Tax in 1861 • Reinstated in 1894
History Of Taxation In The United states ·ln1895,the Supreme Court Ruled Unconstitutional March 11913 the sixteenth Amendment ● Revenue Acts From 1913 to Present
History Of Taxation In The United States • In 1895, the Supreme Court Ruled Unconstitutional • March 1, 1913, the Sixteenth Amendment • Revenue Acts From 1913 to Present