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Tax Law and Accounting Free Essay, Term Paper and Book Report

Introduction Objectives of Modern Income Tax Statutes The primary objective of the federal income tax systems is to raise revenue for government operations. However, as years have gone by the government has widened its use of these laws to encompass economic and social policy objectives. One way the statues are used for economic objectives is “as a fiscal policy tool to stimulate private investment, reduce unemployment, and mitigate the effects of inflation on the economy.” (Pope, p. 1-14) When tax credits are given to businesses that operate in rural or economically suffering areas, or in such cases where natural disasters or tragedies like September 11 happen, then businesses are allowed to provide economic recovery of such areas. This is one way the federal government and the tax law help to stimulate the economy in these areas. Other ways tax law helps in an economic manner is through individual tax deductions and exemptions. These items help provide relief for the individual tax payer that might suffer increased taxes due to the inflation that occurs every year. ......

Word Count: 723
Page Count: 2.8  (250 words a page / double spaced)

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