If the irs is an internal revenue service...?
Is the irs collecting revenue?
Jimmy, if the irs is collecting revenue, then does a business need to receive revenue so the irs can collect revenue?
Or does a business need to receive profit so the irs can collect revenue?
lare..."to finance the federal Government" Does this indicate federal income tax is taxes collected for Federal Income not income of the one being collected from?
NG, you wrote "from the income of individuals and businesses".
Are you refering to living or live individuals when comparing with a business income?
NG also, if everyone is receiving value (income), then who is creating value?
NG, also if you could explain what type of funds a business uses to pay for operating the business such as water and electricity and property tax (ground rent).
"NG, Lets compare your statement...."
"Federal income taxes are taxes collected for Federal income" to...
"Individual income taxes are taxes collected for the Federal Government"
What is wrong with the above comparison between the two statements?
NG, can you answer my question "If everyone is receiving value (income) then who is creating the value being received?
NG concerning..."individual income tax are collected for the Federal Government", you can compare that with Federal Income tax is collected for the Federal Government.
Individual income tax is being collected...would be collected for the individual is a closer match for....
Federal income taxes is being collected...for the Federal Government
NG, can you see your mistake?
NG, The irs is a Revenue collecting agency that collects revenue. Businesses receive revenue the irs collects.
But when the irs collects from employees/laborers paycheck, is also revenue for the irs.
Businesses receive revenue, employees and laborers do not. Is this correct?
NG You wrote "wages are income for the individual"......your theory is incorrect. As I mentioned already, the employee or laborer *creates* a paycheck. They do not just 'receive" a paycheck as a busuiness receives checks from income. If they did, they would not need to work 'before' getting their paycheck.They would just wait for it to come in the mail (or computer). Before a business can receive value (income) someone else needs to *create* value.
Where is the value for the numbers in a ledger book coming from? The value just doesn't magically appear as the numbers are recorded in the ledger.
NG, The two statements do not match....
*Federal Income tax* is for the Federal Governments income
*Individual income tax* is for the federal Governments income
(According to the first statement, Individual income tax would be for the individual, not the Federal Government).
Revenue is suppose to be collected *indirectly* through products/sales/investments NOT directly from someone labor.
- NGC6205Lv 76 years agoBest Answer
You are still mixing up terms and definitions.
Re: Is the irs collecting revenue?
Yes. The IRS collects taxes which are revenue for the government.
Re: if the irs is collecting revenue, then does a business need to receive revenue so the irs can collect revenue?
For corporate or business income taxes, the IRS collects TAXES from the business which is a portion of the revenue for the government. Everything a business collects in return for selling its products and/or services is revenue. Expenses of the business (electricity, wages for employees, raw materials, etc. etc.) are subtracted from revenue to arrive at net profit. Though there are some adjustments to that number that a business can make to arrive at taxable income, in simple terms, that net profit is income for the business and the business pays taxes on that. The IRS collects those taxes.
However, individual income taxes are also revenue for the government and the IRS collects those as well. Contrary to your delusional theories that you keep repeating, the compensation a person receives in exchange for their labor is income for that person. Assuming the person earns more than their allowable deductions, then they must pay taxes. No, a person cannot deduct the cost of their own labor. The federal courts have already decided that wages are income. None of your additional blathering will change that.
Federal income taxes are taxes collected FOR federal income and are collected FROM the income of individuals and businesses.
EDIT: FOR THE TRULY DENSE... YES, A LIVING, BREATHING PERSON HAS INCOME AND THAT INCOME CAN BE TAXED. NO COURT ANYWHERE WILL AGREE WITH YOUR IDIOTIC THEORIES. SINCE NO COURT OR TAXATION EXPERT WOULD AGREE WITH YOUR THEORIES, COMMON SENSE SHOULD TELL YOU THAT YOU ARE WRONG, WRONG, WRONG! SINCE YOU DO NOT SEE THAT, YOU OBVIOUSLY DO NOT HAVE COMMON SENSE.
I have already told you what a business uses to pay its expenses.
Donald, you also have another problem to go along with your lack of reading comprehension, logical thinking, and common sense. That is, even when you have to ask about a simple concept like T-Accounts, you think you know more about the topic than the person giving you the answer when it is obvious to everyone but you that you do not know WTF you are talking about.
EDIT #2 Reread my last paragraph. I'm not going to play any game of semantics with you. There is nothing wrong with the two sentences. If you didn't have a reading comprehension problem, you would see that. ALSO, NO COURT OR TAXATION EXPERT WILL AGREE WITH YOUR IDIOTIC THEORIES ABOUT INCOME OR TAXES WHICH MEANS YOU ARE WRONG!
EDIT #3: There is no mistake in my two sentences. It is YOUR reading comprehension that is wrong. YOU STILL DO NOT GET IT...IF NO COURT, TAX EXPERT, OR ECONOMICS EXPERT AGREES WITH YOUR THEORY, THEN YOU ARE WRONG.
The IRS collects TAXES. Taxes are revenue FOR THE GOVERNMENT. Income is taxed. Businesses can have income. Individuals can have income. WAGES ARE INCOME for the individual.
EDIT #4: You still don't get it. The statement, "wages are income" isn't a theory, it is verifiable fact. The courts state that wages are income. The tax laws make it clear to anyone, except for complete idiots, that wages are income. You don't get to decide how you want to define income. In the U.S, if there is any disagreement about the law, the courts determine who is right and who is wrong. According to the courts, WAGES ARE INCOME. None of your incessant, idiotic blathering changes that.
The words 'Federal income taxes" refer to all types of income taxes collected by the federal government. IOWs, both business and individual income taxes. The words, 'individual income taxes' only refer to those income taxes paid by the individual and collected by the federal government. That is obvious from the context in which I used those terms in my original answer. Your confusion stems from your problem with reading comprehension.Source(s): Reality, not Donald's la-la land.
- lareLv 76 years ago
Prior to the American Civil War, the federal government was finance by charging taxes on imported goods. This tax raised the cost of buying much needed goods primarily for the southern states who did little manufacturing. This was a major contention that led to the south attempting to dissolve the Union. During the war the northern states had to find another revenue source for financing government and a costly war. Congress created the Internal Revenue Service, meaning it would collect taxes internal to the United States instead of foreign import duties. The original IRS primarily collected Excise Tax and not income tax. An excise tax is one placed on personal property things that you owned, targeting expensive items that only well to do people would have and business inventories. Excise tax is sometimes called "Luxury Tax". The federal government did not continue the excise tax program except to target specific items it wanted to control, like cigarettes, alcohol and drugs, sometimes call "Sin Tax" and collected at the time of production. many states today have their own version of personal property tax. a part of you automobile annual registration fees may include a state excise tax which you can deduct from your federal return.
Income taxes came later, but it too came under the IRS instead of the Customs Office. The "Revenue" in IRS means it collects money to finance the government, and not the revenue or income of people and businesses.
- Anonymous6 years ago
that's what it does!