IRS, Beware

May 1999
Journal of Financial Planning;May99, Vol. 12 Issue 5, p21
Academic Journal
This article presents the results of a survey about the views of children on taxation and on the U.S. Internal Revenue Service (IRS). A future generation of income-tax payers thinks taxes are a good thing--except when it comes to a tax on their allowance. H&R Block's third annual survey of 8- to 11-year-olds found that while 71 percent of the kids thought taxes were a good thing, half of the kids would rather go to school year-round than pay taxes on their allowance. However, the kids would be willing to pay allowance taxes to avoid giving up the television or their video games. They sound like a lot of adults we know. Seventy-three percent of the kids thought the IRS was "smart and helpful," though some thought the IRS was a "place that people get help for car crashes" or to "help people, like if they're lost." On the other hand, 38 percent of the kids said their parents get "crabby and mad" when calculating their income taxes. The survey also asked the kids which superstar would they like to pay their family's taxes. Michael Jordan was the first choice. Bill Gates was fourth on the list, right behind the Spice Girls.


Related Articles

  • IRS Issues New Guidance for Field Agents. Duff, Susanna // Bond Buyer;2/11/2003, Vol. 343 Issue 31571, p4 

    Focuses on a guidance sent by the U.S. Internal Revenue Service to its field agents regarding offering options to bondholders to appeal for tax liability before the agency attempts to collect taxes from them. Section in the Internal Revenue Manual that contains the guidance; Penalties on...

  • IRS raises bar on luxury tax. Frame, Phil // Automotive News;1/15/1996, Vol. 70 Issue 5641, p2 

    Reports that the United States Internal Revenue Service has ruled that the threshold at which the ten percent luxury tax on automobiles begins in $34,000 as of January 1, 1996.

  • Eateries on menu of new IRS probe. Mooney, Barbara // Crain's Cleveland Business;11/1/93, Vol. 14 Issue 44, p1 

    Reports on the Internal Revenue Service's (IRS) examination of income tax returns from dining and drinking establishments in Cuyahoga County, Cleveland, Ohio as part of the federal agency's Compliance 2000 program. Reasons for the probe; Percentage of gap between taxes paid and taxes owed every...

  • IRS will not follow Tax Court ruling on deductibility of transportation expenses.  // CPA Journal;Oct94, Vol. 69 Issue 10, p15 

    Reports on the decision of the Internal Revenue Service (IRS) not to follow the Tax Court's ruling in `Walker v. Commissioner.' Ruling that a taxpayer whose only regular place of business is located at his residence can deduct transportation expenses between the residence and temporary work...

  • The lottery of criminal enforcement. Tigue Jr., John J.; Lacewell, Linda A. // CPA Journal;Apr97, Vol. 66 Issue 4, p66 

    Deals with the report of the New York Times that the chances of tax practitioners being recommended by the Internal Revenue Service (IRS) to the U.S. Attorney's Office for prosecution on criminal tax charges vary dramatically. Findings of Department of Justice about the issue; Discretion and...

  • IRS says that `domestic partner' fringe benefits ... Whitehead, Roy // CPA Journal;Jul97, Vol. 67 Issue 7, p12 

    Discusses the policy of the Internal Revenue Service (IRS) regarding the extent of tax exemption for domestic partners or dependents of a tax payer in regard to the exclusion of health and insurance benefits from his gross income. Types of contributions excludable from gross incomes; Provisions...

  • How long does IRS have to revalue family gifts? Blackman, Irving // Contractor Magazine;Jun97, Vol. 44 Issue 6, p50 

    Opinion. Presents information on gift taxes imposed by the Internal Revenue Service. Best way to transfer your business to your children; Information on a Private Pension Plan.

  • Tax file. Simonson, Ken // Fleet Owner;Nov99, Vol. 94 Issue 11, p8 

    Confirms the tax advice of the United States Internal Revenue Service (IRS) Chief Counsel's office on satellite tracking and communications equipment installed on trucks. Details on the ruling.

  • `Check the box' final regulations explained. Phillips, Bernie // National Public Accountant;Aug98, Vol. 43 Issue 6, p8 

    Explains the factors used by the United States Internal Revenue Service in assessing the taxes of corporations. Requirements for partnerships; Procedure for filing; Treatment of long-term care insurance and services.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics