Congress recently approved a new, smaller budget for the IRS. What taxation concept evaluates the cost of administering our tax law?
A)Convenience
B)Economy
C)Certainty
D)Equity
E)None of the choices are correct

Question

Quizplus · Accepted Answer

The concept of economy evaluates the cost of administering our tax law. With a smaller budget for the IRS, it is likely that there will be a decrease in the resources available to effectively enforce tax laws, potentially leading to a decrease in revenue collected from taxes.

Congress Recently Approved a New, Smaller Budget for the IRS