effect of inflation on civil and tax liability
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effect of inflation on civil and tax liability by Aaron Yoran

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Published by Kluwer Law and Taxation Publishers in Deventer, Netherlands, Boston .
Written in English



  • United States.


  • Liability (Law),
  • Damages.,
  • Indexation (Economics) -- Law and legislation.,
  • Taxation -- Law and legislation -- United States.,
  • Indexation (Economics) -- Law and legislation -- United States.,
  • Taxation -- Effect of inflation on -- United States.

Book details:

Edition Notes

Includes bibliographical references.

StatementAharon Yoran.
LC ClassificationsK579.L5 Y67 1983
The Physical Object
Paginationxi, 256 p. :
Number of Pages256
ID Numbers
Open LibraryOL3497147M
ISBN 109065440801
LC Control Number82017224

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  Browse more videos. Playing next. In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. Taxation refers to compulsory or coercive money collection by a levying authority, usually a government. The term "taxation" applies to all types of involuntary levies, from income to capital Author: Julia Kagan. Calculating Federal Tax Liability. To illustrate, we'll use the basic tax tables that took effect on December 22nd, , for single taxpayers, disregarding inflation adjustments. You'll see that information on your screen. If you can, please pause the video and take a moment to review it.

But, Input Tax Credit would be available here too. On quick glance, the government does seem to have been mindful to keep the tax rate on materials more or less in tune with old rates for the most part, with marginal increase or decrease. There will be overall reduced tax liability on construction companies. Purpose: This section first explains how the federal tax lien arises, its duration, and the effect of filing a Notice of Federal Tax Lien (NFTL). The text then discusses the priority disputes between the federal tax and competing liens. The text next discusses the different methods for seeking relief from the federal tax lien, including subordination, releases, and certificates of discharge. A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. Estate tax return preparers who prepare a return or claim for refund which reflects an understatement of tax liability due to willful or reckless conduct are subject to a penalty of $5, or 75% of the income earned (or income to be earned), whichever is greater, for the preparation of each such return.

Section I considers some of the data on government debt. These data give some sense of the history of government debt in the United State and elsewhere. This section also discusses some recent projections for the beginning of the twenty-first century. Section II then examines the conventional view of the effects of government Size: KB.   A tax on a person’s income, wages, salary, commissions, employments, profit and the likes, or excess thereof over a certain amount. Liability to tax in Nigeria depends on whether or not the person sought to be taxed has income liable to tax and resident or deemed to be a resident in Nigeria, for the year of assessment. Tax-deferred growth versus tax-free growth While tax-deferred growth can certainly help you build your nest egg, believe it or not, your savings options get even better than that. A tax at source on behalf of current year liability while subject to the above shortcomings would have an appreciable effect as an inflation control measure through withdrawing compulsorily from current income the tax at regular intervals.