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

question 23

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 and 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:

Broadcasting

The transmission of audio or video content to a dispersed audience via any electronic mass communication medium, typically encompassing radio, television, and the internet.

Journal Entries

Recorded transactions in the books of accounts, detailing the financial activities and changes in an organization.

Tweets

Messages or posts made on the social media platform Twitter, limited to a certain number of characters.

Text Messages

Short, digital messages sent over mobile networks, commonly used for informal communication.