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It is called a collateral promise and it must be in writing to be enforceable
The correct reaction from a professional tax preparer to a taxpayer who missed things on an income tax return that was submitted in a prior year is to inform the taxpayer of the implications of not updating the prior year's return.
A taxpayer is a person or a company that must pay taxes to the federal, state, or municipal governments. Governments mostly derive their income from taxes on both citizens and businesses. Individual taxpayers must typically file and pay both federal and state tax returns each year in the US. While companies must also submit yearly returns, they typically budget for and make recurring anticipated tax payments throughout the year.
Governments at all levels—federal, state, and local—legislate and enforce the U.S. tax code. The major governmental body responsible for enforcing the actualized income tax laws for taxpayer both individuals and corporations is the Internal Revenue Service (IRS).
Implementing and enforcing localized taxes, such as sales taxes and property taxes, falls under the purview of state and municipal revenue agencies. Both individuals and taxpayer corporations need to be aware of their tax responsibilities because failing to pay required taxes can result in fines or other legal measures.
Learn more about taxpayer here
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Answer:
Followings are the example of new reality of American life during the Depression or war year is given below in the explanation part
Explanation:
The example is given below:
- Millions of American people made slum areas over the America in free land and fields because they lost their homes
- country people tried to find jobs in other countries, they did not find the job there.
- Faintness inverted people from farms to cities
Depression completely changed the way of Americans live
Answer: $19.40
Explanation:
Based on the information given in the question, the following can be deduced:
D1 = $5.15
D2 = $8.05
D3 = $11.25
Rate of return = 11% = 0.11
The current stick price will be calculated as:
= 5.15/(1 + 0.11) + 8.05/(1 + 0.11)^2 + 11.25/(1 + 0.11)^3
= 5.15/1.11 + 8.05/(1.11)^2 + 11.25/(1.11)^3
= $4.64 + $6.53 + $8.23
= $19.40
