Using the Following Choices, Show the Justification for Each Provision

question 46

Multiple Choice

Using the following choices, show the justification for each provision of the tax law listed.
a. Economic considerations
b. Social considerations
c. Equity considerations
d. Both a. and b.
-"Pay as you go" (paygo)

• A)Deferral of gains from involuntary conversions
• B)Carryforward of net operating losses
• C)"No change" is a possible result
• D)State income tax applied to a visiting nonresident
• E)IRS special agent
• F)Undoing the "piggyback" result
• G)Ideal budget goal as to new tax legislation
• H)Every state that has a general sales tax has one
• I)Imposed by all states and the Federal government
• J)Imposed by some states but not the Federal government
• K)Imposed only by the Federal government
• L)No correct match provided

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Definitions:

Political Ideologies

Sets of beliefs and values that provide a framework for political, economic, and social policies.

Liberals

Individuals or political parties advocating for policies that emphasize individual freedoms, social justice, and progressive reform.

Conservatives

Individuals or political factions favoring traditional views and values, advocating for minimal governmental intervention in the economy and society.

Socialists

People who advocate for socialism, a political and economic theory of social organization advocating for the means of production, distribution, and exchange to be owned or regulated by the community as a whole.