Which is NOT a proper exercise of administrative feasibility? a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS) b. Payment of tax thru credit/debit/prepaid cards/G-Cash c. Requirement to all taxpayers to file tax returns d. Substituted Filing of Qualified Compensation Income Earner

Which is NOT a proper exercise of administrative feasibility? a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS) b. Payment of tax thru credit/debit/prepaid cards/G-Cash c. Requirement to all taxpayers to file tax returns d. Substituted Filing of Qualified Compensation Income Earner

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 4QY

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Similar questions

Which of the following is an acceptable method of accounting under the tax law? The accrual method The hybrid method The cash method All of the above are acceptable None of the above
According to the Supreme Court, would it be good tax policy to use income as computed by financial accounting principles as the correct measure of income for Federal income tax purposes? Explain.
A major responsibility of the Government Accountability Office is to audit taxpayers’ returns to determine whether they have complied with the tax laws Select one :- a_ true b_ falus
Why might you see accounts called deferred tax assets and deferred tax liabilities on a balance sheet?
Calculator Which of the following statements best describes the purpose of the Taxpayer Bill of Rights? a.To grant to taxpayers the right to choose the time and method of payment of delinquent taxes b.To inform taxpayers of their rights in dealing with the IRS c.To inform taxpayers of the methods for properly completing their income tax returns d.To provide the IRS with additional enforcement powers e.None of these choices are correct.
Tax functions that accounting and finance professionals may assist clients with include all but the following A. Tax compliance B. None of these O c. Tax evasion O D. Tax planning E. Cash management to ensure timely payment of taxes
3. Compare and contrast the following other agencies tasked with tax collections and other fees. ( .S) a. Bureau of Customs (BOC) b. Board of Investments (BOI) c. Local Gov't Tax Collecting Units
Which option is the correct definition of tax base? Select one: a. Tax base is the amount the asset or liability is recorded at in the accounting records. b. Tax base is a comparing the balance sheet derived using accounting rules with balance sheet that would be derived from taxation rules c. Tax base is the recognition of assets and liabilities in the balance sheet based on the differences between accounting and tax values of assets and liabilities. d. Tax base is defined as the amount that is attributed to an asset or liability for tax purposes.
If a government wants to obtain the maximum tax revenue it should A. use static tax analysis. B. not assess the highest possible tax rate. C. assess the highest possible tax rate. D. use an ad valorem system for collecting taxes.
Which is not a primary source of tax law? A. Tax Court Case O B. All of these are. C. Proposed Regulation O D. Revenue Ruling E. None of these are. OF. IRS Notice
Performance standards: Accomplish the BIR (Bureau of Internal Revenue) forms MELCS: Explain the procedure in the computation of gross taxable income and tax due. Mr. Sabado need to pay his tax. You are an agent hired by Mr. Sabado to compute his taxable income and tax due. The BIR agent will check and evaluate based on accuracy of the information prepared. Instructions: From the given information below compute the total taxable income and total income tax due on each scenario. Mr. Sabado, Production Manager of M.A.R Corp., earned annual compensation in 2020 of P 2,333,000, exclusive the 13h month and other benefits in the amount of P250,000 but net of mandatory contributions to SSS and Philhealth. Aside from employment income, he owns a convenience store, with gross sales of P3,555,000. His cost of sales and operating expenses are P1,500,000 and 800,000, respectively, and with non-operating income of P250,000. а. Mr. Sabado signified his intention to be taxed at 8% income tax rate on…
the relevent IPSAS used in accounting for tax revenue with illustration.