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This article discusses Treasury Regulation Section 25.2512-6, which provides valuation conventions for federal gift tax purposes for policies transferred during the insured's life. The article analyzes the Regulation Section by the broad policy types it attempts to value, analyzes the conventions for those broad policy types, and discusses the issues the Regulation Section continues to raise for practitioners who are filing federal gift tax returns for clients who gift policies to a third party during life. [ABSTRACT FROM AUTHOR]

For many financial planners, cash-flow planning is financial planning. Planners must make the effort to fully understand a client's income. This may involve looking at W-2 forms, profit and loss statements, and K-1 tax forms from the client's business. In addition, the planner must identify all the expenses that the client has. We recommend several strategies for monitoring cash-flow planning. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The South African government is experiencing a significant shortfall in tax revenue, and recent research has identified customer loyalty programmes (CLPs) as a potential revenue stream. Despite the popularity of these programmes, which are used by 73% of economically active South Africans, no tax is currently imposed on the rewards received by customers, resulting in the loss of much-needed tax revenue. This paper quantifies the tax revenue that could have been generated by South Africa's three most-used CLPs over a five-year period (2018–2022) to determine if a tax on CLP rewards is a viable revenue stream for the fiscus. The longitudinal instrumental case study employed demonstrates that the fiscus could have conservatively collected R1 140 753 042 in total tax revenue from the three CLPs if a tax had been imposed on CLP rewards, as proposed in this paper. This paper highlights the significant revenue potential of taxing CLP rewards, and it provides valuable insights for policymakers who seek to address the country's revenue challenges. The findings reveal the magnitude of potential contributions to tax revenue in the form of CLPs. Given the impetus behind CLPs, their exponential growth rate and their increasing importance as a marketing strategy, this paper proposes a re-evaluation by policymakers of the taxation of CLP rewards. [ABSTRACT FROM AUTHOR]

This study discusses the legal uncertainty that affects the synergy between the Tax Authority and the Corruption Court Authority (Tipikor) in imposing taxes on assets resulting from corruption that have not been reported by the perpetrators in the Annual Tax Return (SPT). The lack of specific regulations governing the imposition of taxes on assets resulting from corruption causes differences in the interpretation and application of the law in the field, confusing law enforcement officers and business actors. In addition, this study identifies various obstacles faced in coordination between the two authorities, including communication problems, information sharing, and differences in objectives. Using a qualitative approach, this study collected data through interviews with legal practitioners and analysis of relevant legal documents. The results of the study indicate that the existing legal uncertainty and coordination constraints hinder efforts to effectively impose taxes on assets resulting from corruption, thereby harming state tax revenues. This study recommends the need to develop clearer regulations and better cooperation mechanisms between the Tax Authority and the Tipikor Court to improve tax compliance and reduce corrupt practices. [ABSTRACT FROM AUTHOR]

We examine the effects of stock market access, and in particular trading hours, on retail investment performance. Using discontinuities around time zone borders, we find that plausibly exogenous decreases in waking trading hours are associated with meaningful increases in retail investors' capital gains, as reported on tax returns for the U.S. population. Our results indicate that limiting trading hours curbs active retail trading, leading to improvements in portfolio performance. Our findings identify one negative effect of decreasing barriers to entry for retail investors in trading markets. JEL Classifications: M41; M48; G40; G51. [ABSTRACT FROM AUTHOR]

This research aims to develop an information system that supports collecting Income Tax (PPh) for employees in a tax consulting company. This research analyzes the suitability of the tax collection procedures applied by the company and the applicable tax provisions. The method used in this research is descriptive analysis based on data obtained through interviews, observations, and literature review. The results show that the principle of income tax collection in tax consulting companies is in line with the general tax withholding method, with estimated net income as the basis for calculation. The tax rate variations applied include the provisions in Article 17 of the Income Tax Law and related government regulations. The information system developed aims to improve efficiency and accuracy in the reporting of Income Tax Return 21 and support better tax compliance. [ABSTRACT FROM AUTHOR]

Copyright of Zeitschrift für Abgaben-, Finanz- und Steuerrecht is the property of Verlag Oesterreich GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The research aims to investigate the effect of taxpayer compliance on revenue collection using Mbeya City as a case study. Examine the degree of compliance, the variables influencing taxpayer compliance, and the relationship between taxpayer compliance and revenue collection. In the study, both qualitative and quantitative research methodologies were used. Data from 50 respondents were gathered via interviews and questionnaires. Multiple regression analysis, content analysis, and descriptive statistics were used to examine the data. The majority of respondents, according to the statistics, believe that taxpayers file returns on time, pay all taxes owed by the deadline, and accurately record their income. Furthermore, the majority of respondents said that tax rates, penalties and fines, tax audits, tax payer attitudes, and knowledge and education all have an impact on municipal taxpayer compliance. Furthermore, the data revealed a substantial link between taxpayer compliance and revenue collection. The study advised that authorities closely assess the impact of taxpayer compliance on tax collecting operations. Furthermore, it is proposed that the tax system give a clear and straightforward guidance on how to fill out tax returns, but also strengthen taxpayer education programs so that people understand their rights and duties as taxpayers. [ABSTRACT FROM AUTHOR]

This study aims to determine the influence of tax incentives, tax socialization, and taxpayer understanding on the reporting of Annual Tax Returns in Sampit City. The sample of this study is Taxpayers in Sampit City, Central Kalimantan with 300 respondents. The purposive sampling method is used for sample selection. The type of quantitative data is used in this study. The results of this research show that there is no significant influence of tax incentives on the reporting of the Annual Tax Return, but tax socialization and taxpayer understanding affect the reporting of the Annual Tax Return, which means that the existence of tax incentives does not have a significant effect on increasing compliance in reporting the Annual Tax Return, while tax socialization and taxpayer understanding have a significant effect on increasing compliance in reporting the Annual Tax Return. In conclusion, the implementation of tax incentive policies does not have a positive effect on the reporting of Annual Tax Returns. In this study, no significant positive influence was found between tax incentive policies on MSME Annual Tax Return Reporting. Although all respondents are taxpayers who have reported the Annual Tax Return and some answered that they are aware of the tax incentives, they generally still pay taxes according to the amount of tax they usually pay in the previous months. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Islamic Management & Leadership / Majallatul Edarah Wal Qiyadah Al-islamiah is the property of International Islamic Marketing Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Low-income individuals who do not file Canadian personal income tax returns miss out on several important benefits delivered through the tax system and may have challenges in verifying eligibility for other income-tested public goods and services. The Canada Revenue Agency (CRA) could complete simple returns for many low-income families, subject to filer correction. Using the Longitudinal Administrative Databank, we estimate that this approach could be successful for more than half of families in the lowest four ventiles of the population and between 60 and 88 percent of families who rely on provincial income assistance programs. We also estimate that as many as 4.6 million returns for those with income less than $25,000 and that are classified by the CRA as simple have likely involved a commercial tax preparer or software, emphasizing the potential advantage of the CRA providing completed returns in such cases. [ABSTRACT FROM AUTHOR]

The purpose of this research is to understand and gather information on how the employees of PT. Surya Toto Indonesia fulfill their obligations as taxpayers in reporting their Annual Income Tax Return (SPT) for PPh 21, to identify the advantages and disadvantages of the e-filing system, and to explore several efforts to overcome the challenges associated with this system. It also aims to examine the differences in reporting the Annual Income Tax Return (SPT) for PPh 21 before and after the implementation of the e-filing system. The data processed in this research is sourced from primary data, which includes qualitative data from interviews and the company profile of PT. Surya Toto Indonesia, Tbk, and quantitative data related to the calculation of PPh 21 on irregular income for employees. The findings of this study indicate that the employees of PT. Surya Toto Indonesia have fulfilled their obligations as taxpayers in reporting the Annual Income Tax Return for PPh 21. In the implementation of the e-filing system, there are both advantages and disadvantages. Differences have been noted before and after the implementation of the e-filing system in terms of the Notification Letter Form (SPT), tax calculation procedures, time/place effectiveness, efficiency, archiving, data submission of the SPT, and taxpayer compliance. [ABSTRACT FROM AUTHOR]

When an electricity provider wants customers to pay their bills monthly, it sends them a bill each month. Yet, this is not how the tax system works— at least not for independent contractors. Their taxes are due quarterly, but they receive a tax statement (Form 1099) only one time a year. It is up to the individual, then, to know when their taxes are due and how to pay them, and it is on that individual to estimate how much they owe each quarter. As a result, compliance for independent contractors—particularly for online platform workers—tends to be lacking. Failure to pay their estimated taxes subjects these taxpayers to potential penalties and causes the government to collect less tax revenue. There is a simple—yet entirely overlooked—reform that could vastly improve compliance when it comes to paying estimated taxes: third-party information returns (Form 1099s) should be issued to taxpayers on a quarterly basis. The idea is straightforward and intuitive. If the government wants people to pay taxes four times per year, it needs to effectively “bill” them four times per year. This idea is supported by social science research showing that, the more taxpayers are reminded to pay their taxes, the more likely they are to do so. This Article is the first to propose quarterly tax information returns. It offers a detailed proposal for a new Form 1099-ES, which would communicate quarterly earnings and provide guidance on how much to pay in estimated taxes. In doing so, this Article argues for rethinking the conventional wisdom surrounding tax information, taking a more taxpayer focused approach. Rather than viewing Form 1099s solely as a source of information for the government to monitor taxpayers and deter cheating, we should also view the role of information returns as assisting taxpayers in tracking their income and estimating their tax liability. When viewed in this light, the goal should not necessarily be more year-end returns to more people, but instead should be more frequent and useful information for taxpayers. [ABSTRACT FROM AUTHOR]

In connection with the adoption of the Law of Ukraine «On Waste Management», for the first time in Ukraine, such a special subject of these legal relations as an extended producer responsibility organization appears as part of the subjects of administrative legal relations. In Europe, these organizations have been operating for decades, while in Ukraine their activities are just beginning. In this regard, it should be noted that the role of the state, which exercises control over the activities of such business entities on its territory, is always quite important. This control and managerial influence on the activities of certain business entities often depends not only on the areas of their activities, but also on their organizational and legal forms, their profitability or non-profitability, which determines their tax status and forms a certain model of interaction with regulatory authorities. This article analyzes the approach of the Ukrainian legislator to the definition of extended producer responsibility organizations in Ukraine as non-profit organizations, and points out a number of legal issues that may arise in the future in connection with the functioning of the EPROs exclusively as non-profit organizations. It is also stated that the waste management legislation, as it exists today, is new for our country, as it is the result of harmonization of Ukrainian legislation with EU legislation, which, accordingly, provides for its adaptation to the specifics of the work of state bodies, existing business processes and business practices in Ukraine. This raises the need to address certain issues that might not otherwise have been raised. One of these issues is the non-profitability of RWMOs, which the author of the article considers to be the result of an unbalanced approach of the legislator to solving certain problems of RWMOs in Ukraine, and therefore proposes: amendments to certain legislative acts regulating the field of waste management in Ukraine, changing the status of RWMOs from non-profit to profit, which, in the author's opinion, will allow to build a more efficient waste management system and achieve targets for waste recovery and recycling in Ukraine with the participation of organizations with extended responsibility. [ABSTRACT FROM AUTHOR]

Clients will need assistance in understanding various communications they receive from a retirement plan sponsor. These include enrollment packages that may include the summary plan description, beneficiary-designation forms, salary deferral election forms, and automatic enrollment literature. Employer communications also include ongoing notifications, such as individual benefit statements, lifetime income illustrations, summary annual reports, summaries of material modifications to the plan, and blackout notices. Finally, the client will need help in deciphering information given to them when they leave the plan, including notices about benefit claim forms, the eligibility for a rollover notice, tax forms, and more. [ABSTRACT FROM AUTHOR]

The authors use de-identified data from California personal income tax returns to measure the frequency and nature of independent contracting and self-employment in California. They identify this work by the presence of a Schedule C on the tax return and/or the receipt of a Form 1099 information return. The authors estimate that 14.4% of California workers aged 18 to 64 in tax year 2016 had some independent contracting or self-employment income and approximately half of this subgroup also had earnings from traditional W-2 jobs during the year. Only a small share (1.4%) of workers had earnings from online labor platforms (often called gig work). Workers with low earnings were significantly more likely to earn independent contracting or self-employment income and to rely primarily or exclusively on that income. The article explores the characteristics of workers engaging in independent contracting and self-employment and their distribution across family type, geography, and industry. [ABSTRACT FROM AUTHOR]