Explain the benefit principle for selecting a method of taxation. Is the benefit principle more likely to be followed if a tax structure is regressive, proportional, or progressive? Create and clearly provide an example of an actual tax to illustrate your answer.© BrainMass Inc. brainmass.com October 25, 2018, 8:56 am ad1c9bdddf
The benefit principle of taxation states that consumers who benefit from the good or service should be the ones to pay the tax on it. Because the fees paid for government-provided services ...
This solution explains the Benefit Principle for selecting a method of taxation, and explains whether the benefit principle more likely to be followed if a tax structure is regressive, proportional, or progressive. An example of an actual tax is provided for illustration.
Taxation: Change in Accounting Method for Tax Reporting
Once a method of accounting has been selected and applied for tax reporting, it can only be changed with permission of the IRS.
Any change from an improper method to a proper method will automatically be approved after filing for permission.
1. List three common types of changes in method subject to review and approval by the IRS.
2. Adjustments as a result of a change in method can affect how many years?View Full Posting Details