Solutions Manual For South-Western Federal Taxation 2024: Corporations, Partnerships, Estates and Trusts, 47th Edition

Solutions Manual For South-Western Federal Taxation 2024: Corporations, Partnerships, Estates and Trusts, 47th Edition by William Raabe, James Young, Nellen, Hoffman
Solutions Manual For South-Western Federal Taxation 2024: Corporations, Partnerships, Estates and Trusts, 47th Edition by William Raabe, James Young, Nellen, Hoffman
(LO 1) When enacting tax legislation, Congress often is guided by the concept of
revenue neutrality so that any changes neither increase nor decrease the net revenues
raised under the prior rules. Revenue neutrality does not mean that any one taxpayer’s
tax liability remains the same. Since this liability depends on the circumstances
involved, one taxpayer’s increased tax liability could be another’s tax saving. Revenue-
neutral tax reform does not reduce deficits, but at least it does not aggravate the
problem.
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