Income Tax Preparation - V

Vertical equity

admin — Tue, 12 Oct 2010 03:47:42 +0000

The concept that people in different income groups should pay different rates of taxes or different percentages of their incomes as taxes. "Unequals should be taxed unequally."

Voluntary compliance

admin — Tue, 12 Oct 2010 03:47:42 +0000

A system of compliance that relies on individual citizens to report their income freely and voluntarily, calculate their tax liability correctly, and file a tax return on time.

Volunteer Income Tax Assistance (VITA)

admin — Tue, 12 Oct 2010 03:47:42 +0000

This provides free income tax return preparation for certain taxpayers.