TRUE OR FALSE.1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevailover Civil Code.2. Taxes are voluntary contributions to the government.3. Taxation is the government's legitimate means of interfering with the private properties of itssubject.4. Tax laws are given retroactive effect5. As a rule, doubts as to imposition must be resolved liberally in favor of the government.6. An aspect of tax power that could be delegated to the President covers both legislative andadministrative discretion.7. The power of judicial review in taxation is limited only to the interpretation and application oftax laws.8. No law granting any tax exemption shall be passed without the concurrence of the two-thirdsof the members of the Congress present.9.The primary requisite of equity principle is that each taxpayer should be required to contributeequal amounts in the form of taxes.10. All government entities regardless of their functions are exempted from taxes.11.Tax exemption is not transferable and assignable.

Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Answered: 1. Whenever there is conflict between…

Business

Accounting

1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevail over Civil Code.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: The taxable portion of interest received by a 75- year-old resident of the Republic from a South…

A: “Since you have posted a many questions, we will solve first question for you. To get the remaining…

Q: Among the inherent powers of the State: O Taxation is the most punitive and restricting. O Taxation…

A: Among the inherent powers of the state: Taxation constitutes the most direct form of equivalent…

Q: The object of distraint may either be personal and/or real properties of a delinquent taxpayer

A: Delinquent taxpayers are those taxpayers who did not pay the amount of taxes due till the deadlines.…

Q: 1.(True/False) Cases and rulings contrast in that cases represent a binding resolution to…

A: True.

Q: 1st statement – Tax exemptions are strictly construed against the government. 2nd Statement - When…

A: only statement second is correct, because whenever there is doubt regarding the taxability of an…

Q: Pursuant to the Golsen Rule: a. the Tax Court must follow all Circuit Court of Appeals decisions.…

A: Golsen rule says that the tax court render different decisions , based on identical situation ,for…

Q: Which of the following is a characteristic of tax? b. a. The amount to be collected is limited to…

A: Here discuss about the details of the characteristic of the taxes as well. There are some district…

Q: a. Explain what is meant by general anti-avoidance rule. B). State what impact this could have on…

A: Anti-avoidance in general:- The GAAR is a concept that allows a country's Revenue Authority to deny…

Q: The power to decide tax cases of the CIR are subject to appeal to the Court of Appeals a. True b.…

A: Court of Appeals represents the original jurisdiction for criminal and civil cases related to the…

Q: Which of the following state tax scenarios violates the commerce clause? Multiple Choice…

A: Tax: It is a compulsory contribution to the state revenue that levied by the government on the…

Q: Does the IRS acquiesce in decisions of U.S. district courts? O A. Yes. However, the IRS can only…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: What kinds of deductions are prohibited as a matter of public policy? Why might Congress deem it…

A: One definition of the public policy describes it as "a system of laws, regulatory measures, courses…

Q: What does the term "hazards of litigation" mean in the context of taxation?

A: Tax: A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization…

Q: In the Eisner v. Macomber tax case, what were the facts of case, court decision, and reasons stated…

A: Eisner v. Macomber case was a tax case that was held before the United States Supreme Court.

Q: True or False Excluded income will never be

A: Excluded income can never be subject to federal tax. The comprehensive definition of income means…

Q: Philippine tax laws are: a. Civil, not political, not penal b. Civil, not political, penal c. Civil,…

A: Philippine Tax laws are civil, not penal and not political in nature. But there are penalties…

Q: Congress has chosen to exempt certain income from taxation such as

A: The taxpayer pays taxes to the government on the income earned. The tax rules and regulations are…

Q: Section 61 of the IRC (Internal Revenue Code) has been labeled as "too broad" and "vague" by some…

A: Internal Revenue Code (IRC), Section 61 (a) describe the gross income as the income from the sources…

Q: the deciosion of court in Eisner v. Macomber tax case and why?

A: Eisner V. Macomber tax case : Case Insight No. : , 252 U.S. 189 (1920), presented before the U.S…

Q: Which is NOT a constitutional limitation on the power of taxation? a. Application of the same law…

A: Constitutional Limitation on the power of taxation:- It means in the eyes of law and taxation…

Q: In which cases does a taxpayer experience juridical double taxation? (give two examples). Which…

A: 1. Juridical double taxation occurs when a taxpayer is taxed twice on the same income source by two…

Q: f ambiguity, tax exemptions shall be interpreted liberally in favor of the government. Group of…

A: Tax exemptions are given for the benefits of assessee.

Q: 3.(T/F) When a petition is filed with the Tax Court, the taxpayer is required to pay the deficiency…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: In what circumstances can a taxpayer challenge an assessment outside the ordinary appeal process.…

A: In matters determined by the Regional Trial Court in the exercise of its original jurisdiction, an…

Q: IRS agent

A: An IRS agent act on behalf of customers for preparing returns of representations before IRS.

Q: Among the inherent powers of the State: A. Taxation is the most punitive and restricting. B.…

A: Inherent powers of state refers to the information which is not written in the constitution and…

Q: A) Can the government tax its own agencies or instrumentalities? Explain.

A: Government agencies and instrumentalities are the extension of the government itself.…

Q: It is the place where an authority has the right to impose and collect taxes. * a. Source…

A: Tax: It refers to a mandatory financial levy imposed by the government on the taxpayer including…

Q: Will you be imprisoned for non-payment of tax? Is it absolute?

A: Income Tax- Income tax is a tax levied on a person's or a company's earnings for the previous year.…

Q: The following is true of a Circuit of Appeals: a. The taxpayer who originated his claim in a US…

A: A court of appeals decides the appeals from any of the district courts that are in its federal…

Q: If the power of taxation is an inherent power and therefore there is no need for constitutional…

A: Tax is the amount which has to be paid to the government and the same has been computed on the basis…

Q: What are the constitutional limitations on the State's power to tax

A: Constitution of the United States: The Constitution of the United States is the preeminent law of…

Q: Which of the following is the highest authority for resolving federal tax cases? O US Supreme Court…

A: Tax litigation generally arises when the taxpayer does not pay the taxes or delays the payment of…

Q: Statement 1: BIR rulings are the final interpretations of the Tax Code. Statement 2: Supreme…

A: Statement 1: BIR rulings are the final interpretations of the Tax Code. - TRUE In some cases, the…

Q: The secondary authority should be cited in the analysis section of a tax file memo. Is true or…

A: Hey, Since there are multiple questions posted, we will answer first question. If you want any…

Q: Indicate whether the following statements are "True" or "False" regarding letter rulings. a.…

A: Letter Rulings Letter rulings does not have the force and effect of law, but they provide guidance…

Q: When a tax law failed to comply with fiscal adequacy and Administrative feasibility, the tax law is…

A: Fiscal adequacy refers to the ability of the tax law to generate sufficient revenue to fund…

Q: 14. If the taxpayer failed to pay the tax demanded per final assessment, the government may exercise…

A: Distraint and levy cannot be simultaneously.

Q: In what circumstances can a taxpayer challenge an assessment outside the ordinary appeal process.…

A: Introduction:- A taxpayer is a person or an entity (such as a corporation) who is required to pay a…

Question

TRUE OR FALSE.
1. Whenever there is conflict between the Tax Code and the Civil Code, Tax Code will prevail
over Civil Code.
2. Taxes are voluntary contributions to the government.
3. Taxation is the government's legitimate means of interfering with the private properties of its
subject.
4. Tax laws are given retroactive effect
5. As a rule, doubts as to imposition must be resolved liberally in favor of the government.
6. An aspect of tax power that could be delegated to the President covers both legislative and
administrative discretion.
7. The power of judicial review in taxation is limited only to the interpretation and application of
tax laws.
8. No law granting any tax exemption shall be passed without the concurrence of the two-thirds
of the members of the Congress present.
9.The primary requisite of equity principle is that each taxpayer should be required to contribute
equal amounts in the form of taxes.
10. All government entities regardless of their functions are exempted from taxes.
11.Tax exemption is not transferable and assignable.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

1. Establishes the tax differences between individuals and corporations in the United States. 2. Explains Form M-1 and what it is used for. 3. Explains Form 1125-A and what it is used for.
1.(T/F) The Code is the final authority on most tax issues. True or false 2.Primary sources of authority are comprised of which of the following? a. Statutory law. B.Administrative interpretations. C.Judicial interpretations. D. None of the above E.All of the above
2.Which of the following are courts of original jurisdiction? a.U.S. Tax Court b.U.S. District Court c.U.S. Court of Federal Claims d.All of the above e.None of the above
Help! True or false In case of conflict between the by-laws and the corporation code, the code shall prevail. (Explain why)
What are the three areas of government that can create tax law? How does each area function?
91
ST. 1 The aspects of taxation are shared by the executive and legislative branches of the government. ST. 2 Taxes should be prospective and shouldn't be given retroactive effect because they are burdens. Which is correct? A. Both B. ST. 1 only C. ST. 2 only D. None
The salaries of the Chief Justice and associate justice of the Supreme Court are tax-exempt because they are employees of the government. TRUE OR FALSE?
MC: Topic: Income Taxation The following defines taxation, except: * It is an inherent power of the state. It is an executive prerogative. It is a process of collecting contributions. It is mode of allocating government costs or burden to the people.
What is the issue with trying to abolish all property tax? Is property tax mandated by the government or the state?
19. S1: The salaries of the Chief Justice and associate justices of the Supreme court are tax-exempt. S2: The salary of the Commissioner of Internal Revenue is exempt from income tax. Group of answer choices d. Both are false c. Both are true a. Only S1 is true b. Only S2 is true
Does the concept of a progressive (and fair) tax system become undermined by the ability to tweak the Tax Code to suit Congress' purposes in terms of driving social policy?