Podcast
Questions and Answers
What is the inherent risk of the self-assessment method for taxpayers?
What is the inherent risk of the self-assessment method for taxpayers?
- Under-compliance or non-compliance (correct)
- Over-compliance
- Delayed tax payments
- Excessive tax refunds
What are the procedures called that the law provides for disputing assessments and recovering taxes erroneously paid by taxpayers?
What are the procedures called that the law provides for disputing assessments and recovering taxes erroneously paid by taxpayers?
- Tax evasion measures
- Tax avoidance strategies
- Tax amnesty procedures
- Taxpayers' remedies (correct)
What is the act or process of determining the tax liability of a taxpayer in accordance with tax laws called?
What is the act or process of determining the tax liability of a taxpayer in accordance with tax laws called?
- Tax investigation
- Assessment (correct)
- Tax audit
- Tax enforcement
What are the procedures used by the government to enforce the determination of tax liability referred to as?
What are the procedures used by the government to enforce the determination of tax liability referred to as?
What may taxpayers be improperly assessed by the government at times?
What may taxpayers be improperly assessed by the government at times?
Flashcards
Self-assessment risk
Self-assessment risk
The potential for taxpayers to under-comply or not comply with tax laws.
Taxpayers' remedies
Taxpayers' remedies
Procedures provided by law for disputing assessments and recovering taxes wrongly paid.
Assessment
Assessment
The act of determining a taxpayer's liability according to tax laws.
Government remedies
Government remedies
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Improper assessment
Improper assessment
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Study Notes
Tax Assessment and Dispute
- The self-assessment method for taxpayers carries an inherent risk of incorrect tax liability calculation.
- Taxpayers have the right to dispute assessments and recover taxes erroneously paid through procedures provided by the law.
- The act or process of determining the tax liability of a taxpayer in accordance with tax laws is called tax assessment.
- The government enforces the determination of tax liability through procedures referred to as tax enforcement.
- Taxpayers may be improperly assessed by the government at times, resulting in incorrect tax liabilities or penalties.
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