Congress Recently Approved a New, Smaller Budget for the IRS

question 5

Multiple Choice

Congress recently approved a new, smaller budget for the IRS. What taxation concept evaluates the cost of administering our tax law?

• A)Convenience
• B)Economy
• C)Certainty
• D)Equity
• E)None of the choices are correct

---

Definitions:

More Convenient Forum

A legal doctrine allowing courts to transfer a case to a jurisdiction that is more suited for all parties involved or for the witnesses.

Lex Mercatoria

A body of commercial law and customs used by merchants throughout Europe during the medieval period, which still influences international trade law today.

Law of Merchants

Historical body of law originating from the practices of merchants and traders dealing with questions of commerce and trade.

Trade Agreements

Contracts between states or countries governing the terms of trade between them, which may include tariffs, trade quotas, and other trade-related provisions.