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Essay

Tax Law and Accounting

Essay specific features

 

Issue:

Business

 

Written by:

Efrain G

 

Date added:

September 7, 2016

 

Level:

 

Grade:

A

 

No of pages / words:

7 / 1903

 

Was viewed:

7584 times

 

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Essay content:

In addition, such mandates were made applicable to individuals, as well as corporations. As a result, differences between Generally Accepted Accounting Principles (GAAP) mandated by the Financial Accounting Standards Board (FASB), and the guidelines required in adherence to tax accounting required adjustment for compliance...
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The attempt was imposed on August 5, 1861 under the Revenue Act of 1861, which taxed 3 percent of all incomes over $800. However, such taxation was rescinded in 1872. Several other attempts at income taxation followed; although the United States Supreme Court made an 1895 ruling with regard to Pollock versus Farmers' Loan and Trust Company, which held that taxes placed on capital gains, dividends, interest, and rents must be apportioned as direct taxes on property...
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