0
To raise the funds that the Federal government needs to pay for the services and benefits it provides for the society it governs.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What has the author Barney McCoy Smith written?
Barney McCoy Smith has written: 'The Federal income tax law' -- subject(s): Income tax, Law and legislation, Popular works 'Understanding and using the Federal income tax law' -- subject(s): Income tax, Outlines, syllabi
Who signed the first federal income tax law?
Abraham Lincoln signed the first Income Tax Law - 3% on incomes over $600.00
What has the author Joyce Stanley written?
Joyce Stanley has written: 'Federal income tax law' -- subject(s): Income tax, Law and legislation
How is personal income tax used?
The federal government uses the income tax for general federal purposes. It is not designated for any specific purpose. Revenues from the tax can be used for anything from soldiers' salaries to interest on the national debt and millions of other expenditures. State and local income taxes are used according to state and local law.
Is there a law requiring federal income tax?
Yes, there is. Lots of them, in fact.
What has the author Samuel A Donaldson written?
Samuel A. Donaldson has written: 'Federal income taxation of individuals' -- subject(s): Cases, Income tax, Law and legislation 'Acing federal income tax' -- subject(s): Handbooks, manuals, Income tax
Who can take your federal income tax?
federal income tax people
Where can information on income tax law be viewed?
There are various resources where one can view income tax law. Federal income tax law can be viewed at the official website for the IRS. For state tax laws, one can access their state's department of taxation or department of revenue website.
The federal personal income tax is an example of which kind of tax?
The federal personal income tax is an example of progressive tax.
Similarities between state income tax and federal income tax?
The taxable amounts of the income from each income tax return will be taxed at the tax rates for the state and for the federal.
What is the purpose of income tax deduction?
A deduction on your income tax return would reduce your taxable income on your 1040 income tax return and reduce your federal income tax liability. An income tax deduction amount from your gross pay would be a prepayment of any future federal income liability you may have after your income tax return is completely at the end of the tax year and if enough is deducted from your gross pay you could end up receiving a refund of some of the withheld income tax amount.
When you file for federal income tax will you get the same amount for your dependents no matter what state your in or does it differ from state to state?
FEDERAL income tax is governed by FEDERAL law and regulations- same everywhere. Different STATES may have different STATEtaxes.
