IRS' Administration of the Crude Oil Windfall Profit Tax Act of 1980 PDF Download
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Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 148
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Book Description
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 148
Get Book Here
Book Description
Author: United States Accounting Office (GAO)
Publisher: Createspace Independent Publishing Platform
ISBN: 9781719340892
Category :
Languages : en
Pages : 146
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Book Description
IRS' Administration of the Crude Oil Windfall Profit Tax Act of 1980
Author: GENERAL ACCOUNTING OFFICE WASHINGTON DC GENERAL GOVERNMENT DIV.
Publisher:
ISBN:
Category :
Languages : en
Pages : 141
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Book Description
Anticipating that the removal of oil price controls would significantly increase the oil industry's profits, the Congress enacted the Crude Oil Windfall Profit Tax Act of 1980. Under the act, oil producers pay a tax on the difference between the free market price of a barrel of oil and its controlled selling price under Department of Energy regulations. Although IRS received no supplemental funding to administer the tax, it moved quickly to establish a compliance program. So that it can further strengthen this program, GAO recommends that IRS develop a more effective means for deciding which properties containing oil wells should be subject to IRS examination; ensuring that the windfall profit tax was in fact assessed on the initial sale of oil subsequently resold many times; and examining tax refund claims based on the very complex section of the law which is designed to assure that the tax is levied only on barrels of oil which, when sold, yield a profit to the seller. To further facilitate windfall profit tax administration, however, the Congress should consider streamlining procedures for issuing tax due notices and appealing IRS decisions to the courts.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 3
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Book Description
Author: United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 320
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Book Description
Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 48
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Book Description
Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 142
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Book Description
Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 326
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Book Description
Author: Craig E. Reese
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
When Congress enacted the Crude Oil Windfall Profit Tax Act of 1980, only a few sophisticated tax professionals were cognizant of the technical problems that would ensue in implementing the windfall profit tax (WPT). In the 18 month since, there has been a wealth of technical literature published on compliance problems, and on suggestions for minimizing the WPT. This is a collection of articles, and while there is some duplication of focus in the articles, it should prove valuable to readers, as two or more explanations of the same problem or issue often facilitates a reader's comprehension.
Author: United States
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 232
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Book Description
