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Essential Tax Laws Harming the Economy Tremendously The tax policies introduced often disrupt the economic balance of the society. Therefore the policy experts are always on the verge of making the tax system simpler and smarter. During the discussion, they always focus on whether the taxes should be increased, cut, or kept where they are. Therefore for measuring the effectiveness of each of the introduced tax laws, the government has devised several criteria. Thus the three measures formulated by the government are a tax law's fairness, the extent to which it promotes economic efficiency, and also the degree to which the law is transparent, simple, and easy to be administered by the IRS. On reading the contents of the Taxation Law assignment help, the students can know the loop holes of tax law. Tax Laws that Can be Revised for Benefit There are some specific tax laws that hurt the economy mostly and thus can be revised to draw the benefit of it. They are as follows: The Pro Sports Subsidy: This tax law allows the Professional Golfers' Association, National Hockey League, and National Football League to operate as nonprofits. This means that the NFL that generates millions of dollars of profit from its team and held billions of dollars of assets, pays no federal income tax. The AMT Boondoggle: In 1982, Congress passed the AMT, which ensures that the well-off income holders at least pay some tax every year. But according to the report from the National Taxpayer Advocate, the middle-class and the upper-middle-class taxpayers pay the AMT, whereas most of the wealthy people do not pay the tax. The High-Tech Loophole: According to the Government Accountability Office's notes, there is a provision of the legitimate place for the governments in subsidizing the research that benefits the society well that does not turn out any profit. The writers of BookMyEssay provide unique and genuine content of Taxation Law assignment help to the students. Byzantine Tax Phase-Out: For using the phase-outs, the tax returns are needlessly complicated. Therefore, the tax exemptions and credits get limited with the rise in the taxpayers' income, along with the goal to provide more help to people having lower incomes. Special Treatment for Hollywood: When the Hollywood movie studios like News Cop. And Time Warner recorded billions of profits in 2012; then, it seems odd that they need a special favor in tax code for specific tax exemption. Being a part of the fiscal cliff deal, they anyway got special expensing rules renewed by the government for the film and TV production. The Convoluted Capital Gains Tax: The capital gains income is noted by the Tax Policy Center, which is subjected to at least eight different effective tax rates. It mainly depends on the taxpayers' regular tax rates, how long an asset has been owned, whether the taxpayer owes AMT, and the type of assets. Therefore, for this, one of the three IRS worksheets are used for calculating the tax that runs to 37 lines. The students can access the service of assignment writing help from the experts of BookMyEssay at any time. Read more here:- https://www.bookmyessay.com/taxation-law-assignment/

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