Which, If Any, of the Following Provisions of the Tax

question 118

Multiple Choice

Which, if any, of the following provisions of the tax law cannot be justified as promoting administrative feasibility (simplifying the task of the IRS) ?

• A)Penalties are imposed for failure to file a return or pay a tax on time.
• B)Prepaid income is taxed in the year received, not in the year earned.
• C)Annual adjustments for indexation increases the amount of the standard deduction allowed.
• D)Personal casualty losses in Federally declared disaster areas must exceed 10% of AGI to be deductible.
• E)A deduction is allowed for charitable contributions.

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Definitions:

British Economist

Refers to an economist from Britain, often notable for contributions to economic theory or policy.

Previous Economists

Scholars and thinkers who have contributed to the study and development of economic theories and principles in the past.

Franklin D. Roosevelt

The 32nd President of the United States, serving from 1933 to 1945, known for leading the country through the Great Depression and World War II with his New Deal programs.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the Great Depression.