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 taxation concept that evaluates the cost of administering our tax law is Economy. The IRS budget is a significant cost for the government, and reducing it will save money. The concept of economy suggests that taxes should be collected at the minimum possible cost, making the IRS budget a relevant consideration.

Congress Recently Approved a New, Smaller Budget for the IRS