Asked by Bradley Bennett on Jun 19, 2024
Verified
Typically,federal tax legislation is introduced in the Senate Finance Committee.
Federal Tax Legislation
Laws passed by the United States Congress that relate to taxes imposed by the federal government.
Senate Finance Committee
A powerful committee in the United States Senate that deals with matters related to taxation, revenue, and other financial policies.
- Acquire knowledge of the legislative process involved in federal tax law creation and the significance of IRS Regulations and Revenue Procedures in the management of taxation.
Verified Answer
SC
Steve ClarkJun 24, 2024
Final Answer :
False
Explanation :
Federal tax legislation is typically introduced in the House of Representatives, specifically in the Ways and Means Committee, as required by the U.S. Constitution (Article I, Section 7).
Learning Objectives
- Acquire knowledge of the legislative process involved in federal tax law creation and the significance of IRS Regulations and Revenue Procedures in the management of taxation.