The article “Where do State and Local Government Get Their Tax Revenues,” written by Forster and Padgitt, examines the main tax income sources for local and state governments in the US. The article provides a detailed analysis of each of these sources and their respective contributions to the overall revenue...
During the last several decades, the US government has implemented a number of critical laws and policies to support the nation and introduce equal and fair living conditions. While some steps have been frequently criticized, there are many attempts that have been positively accepted and approved. In 2021, the representative...
Overview of the Report The Anti-Money Laundering (AML) Regime is a collection of standards, norms, and rules set by the Financial Action Task Force (FATF). This framework establishes the legal and operational framework for countering money laundering and terrorist financing (Nance, 2018). The 2006 Anti-Money Laundering (AML) report by the...
The article by Collins and Flannery (2022) addresses the issue of raised inequality in the country and its consequences. It claims that the American system is at risk of becoming a taxpayer-funded private power platform for the ultra-wealthy. The article points out how this situation is dangerous for the nonprofit...
Introduction The paradigm of financial cooperation between the civil population and the government is most usually performed through an established taxation system. Thus, by paying an additional price for products and services purchased in the country, people assist the government in financing health care, the army, and various public sectors....
Taxes are a necessary part of the state’s operation, yet their collection can elicit opposition from the populace. Tax systems have a long and illustrious history that dates back to ancient Egypt. Despite their long history of evolution, modern tax systems continue to evolve and confront significant challenges. This thesis...
Robert Thomas’ creation of an LLC to purchase a vehicle can be considered a controversial decision from the perspective of ethics, but this action does not violate state laws. Robert Thomas made a $351,800 vehicle purchase at the Dixie RV Super Store in December 2007 using a Montana firm that...
My favorite benefit I would like to introduce is the gift tax rule. The gift tax is a type of federal tax to be paid to the government while transferring money or property from one person to another without any profits or less than the total value of the gift...
The thirtieth of the Federalists’ Papers, Federalist No. 30, was an article by Alexander Hamilton. According to Chernow, “few figures in American history have been more hotly debated than Alexander Hamilton” (Chernow, 2016, p. 1). The New York package was published. It is the first of Hamilton’s seven essays on...
One of the daunting things about being an adult is financing the government through paying taxes. An increase in taxes means an increase in pricing for services and commodities, which bores holes in people’s pockets, especially in developing countries. In 2018, the United Arab Emirates introduced a Value Added Tax...
Introduction In order for the concept of tax morality to be determined, it is essential to identify the legal framework for the flat tax that consumers pay once they purchase an item. Since this type of taxation is implied with every purchase, consumers cannot avoid it. Hence, the morality aspect...
Research on tax compliance is a thought-provoking task because tax returns are private, and people have a conferred interest in lowering their tax accountabilities. The tax evasion case against Richard Hatch provides a rare knowledge into ethical issues surrounding taxation. Richard Hatch won one million dollars in the introduction season...
Introduction Tax law simply refers to a group of rules defining taxation within a specific state. According to Mtetwa (Para 1), accounting is a procedure in financial business where all deals are recorded. Accounting involves keeping a record of what an organization owns and owes other organizations and individuals. Accounting...
The U.S social security system was first introduced in the year 1935 under the Social Security Act by the then President Roosevelt’s administration. The aim of this programme was to cater for the elderly and retired, by offering certain special benefits to them. In the United States, the Social Security...
