What role does the U.S congress play in creating the tax law? Briefly explain how a tax bill...
Question:
What role does the U.S congress play in creating the tax law? Briefly explain how a tax bill becomes a tax law What role does the Internal Revenue service play in interpreting and providing guidance on the tax law?
Tax law:
The law established to pay federal, state, and local taxes on commodities, income from various activities, etc., is called tax law. This is applied to all the citizens and residents of the U.S. But there are some deductions and exemptions for some business activities, and they no need to pay tax for that year.
Answer and Explanation: 1
Become a Study.com member to unlock this answer! Create your account
View this answerUsually, there exists a tax bill in the first step, and from the later steps, the U.S congress gets involved in passing such a bill to the President....
See full answer below.
Learn more about this topic:
from
Chapter 3 / Lesson 9When a federal government holds certain powers or controls over state governments and their actions, it is called federalism. Learn more about governments based on federalism like the United States, as well as examples of mandates and federal court rulings.