Taxation is a process that has been in operation for centuries now, and most urbanized societies have some form of taxation. However, one universal principal of taxation is that the taxpayers have an obligation to pay taxes but no real ability to directly determine or dictate the usage of philadelphia business income and receipts tax. The only way taxpayers have control of the taxes is by representation through democratic voting. However, the United States is now seeking to take taxation to a whole new democratic platform.
Philadelphia Business Income and Receipts Tax
There have been proposals in Congress in the recent past to require the government to provide itemized receipts to the taxpayer for the taxes they pay. This means that the taxpayer will know exactly how his or her taxes are used and appropriated. This move is set to make the government more accountable to the taxpayer and build taxpayer awareness and involvement in the tax process philadelphia business income and receipts tax.
The White House Taxpayer Receipt Calculator
There have been many government and tax watchdog organizations that have come up with automated calculators to break down the tax paid by different taxpayers into the how the tax money was spent. However, the calculator that has drawn most reaction is the White
House Taxpayer Receipt Calculator because the White House is seeking to be more accountable to the taxpayer by making him or her aware of how the tax paid will be used. The calculator is available at the website. To get a breakdown of one’s tax usage, one needs to input the Medicare, Social Security, and Income taxes paid in the last tax year. This is the amount indicated in box 4 and 6 of the W-2s and the tax amount on the Form 1040, 1040A, or 1040EZ, depending on the form filled out by the taxpayer.
The calculator breaks down the amount paid into 14 spending categories. 8 categories have a final figure while the others have the amounts further broken into subcategories. Percentage formulas are used to present an indicative budget of how the dollars paid by the taxpayer will be spent.
The Defense category takes up the largest portion at 26.3%, the Healthcare program at 24.3%, and household payouts, including unemployment benefits, tax breaks, tax credits, tax reliefs, and retirement programs, take up 21.9%. One of the categories drawing quite some attention is the “Additional Government Programs” category that appears to be more like a “miscellaneous” item with no further details. The category makes up for 2.4% of the taxes paid. Critics are seeking to get further details for this category.
Bill to Make Receipt Law
Beyond the White House calculator, that seems more of a fun tool to help taxpayers become more aware of the usage of his or her taxes, some members of Congress are now seeking to have the taxpayers receipt as part of the law. Representatives Mike Quigley, Dave Reichert, and Aaron Schock have introduced a bill H.R. 1527 to have the taxpayers receipt as part of law. In the same light, the Senators Bill Nelson (D-Fla) and philadelphia business income and receipts tax Scott Brown (R-Mass), both members of the Senate Finance Committee have introduced a bipartisan bill, S. 437- The Taxpayer Receipt Act, which also seeks to make the taxpayers receipt, a law.
As lawmakers push the agenda of the taxpayers receipt, the public at large awaits to see if the U.S. will take up this new milestone in democracy to provide personalized accountability for tax expenditure.…