Instead you should focus on developing a broad understanding of how the us tax system works after defining a tax and providing some background information on the income tax this chapter introduces those taxable persons that pay income taxes individuals c corporations and fiduciaries. The federal government of the united states obtains most of its revenues from income taxes on individuals and corporations social insurance taxes help pay for government programs that benefit the poor the elderly the unemployed and the disabled taxation system of raising money to finance government. The answer to all these questions is found in system called taxation when you go to market and purchase a product or service in that particular market you pay a specific amount of tax included in the price of that commodity the word tax came from latin word taxo taxare which means to asses or estimate. Module 1 an introduction to taxation in this module you will be introduced to the different kinds of taxes faced by us taxpayers and the us federal income tax structure the origin of tax law and its constitutionality is discussed along with a brief history of the different changes in rates that have occurred since the 16th amendment was passed. Taxation is a financial charge imposed on people taxation is a means whereby the state collects funds to pay for public services all tax laws should conform to the maxims of taxation equity 1
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