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∙ 15y ago
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Who levies income tax?
Income taxes are levied by the legislature.
What does it mean by A sum of money placed on a person property income of an individual by a government?
Sounds like a description of levies, or taxes.
Which U.S Treasury bureau assesses and collects taxes on business and personal income?
which U.S. Treasury bureau assesses and collects taxes on business and personal income
What branch of the government levies income tax?
It depends on what "government" you are asking about. In the United States of America, the Federal government and most states levy and collect income taxes. So do many cities.In the Federal Government, income taxes are levied and collected by the Internal Revenue Service, which is part of the Treasury Department. The Treasury department is part of the Executive Branch, and is reports to the President.
Why is it that government is exempted in taxation?
The government does not earn any money, the income it has derives from the taxes it collects.It collects that money in taxes to pay for social requirements. Health, infrastructure, defence etc.
What can be used to describe money that is earned by government when it levies taxes?
revenue
What us-Treasury bureau assesses and collects taxes on business and personal income?
The IRS (Internal Revenue Service) assesses and collects taxes on business and personal income.
What is one reason the federal government collects income taxes from every paycheck as a person earns wages?
so that the government can pay bills as they come due
Which term can be used to describe money that is earned by government when it levies taxes?
revenue.
Which federal government institution levies taxes?
Internal Revenue Services or IRS
What terms can be used to describe money that is earned by government when it levies taxes?
revenue
What entity does the IRS collect income taxes for and what US law specifically allows this?
The IRS collects taxes for the Federal Government. The basis for this is 16th ammendment of the constitution which allows the Federal government to levy income taxes. This is implemented via the tax code with is subjected to frequent revision by congress.
