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A self-employed commercial artist reports taxable income of $7,000. Actually, her income is considerably

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A self-employed commercial artist reports taxable income of $7,000. Actually, her income is considerably higher, but much of it takes the form of cash for small projects and thus is easy to conceal. She considers herself part of the ?underground economy? and defends her behavior as a tactic that allows her small business to survive. If the business were to fail, she argues, the government would receive even less tax revenue.;Question 1 Is the ?need to survive? a reasonable defense for the practice described here? Explain your answer.;Question 2 If the practice of concealing income is widespread, as implied by the phrase ?underground economy,? is it really wrong? Use information from your textbook to defend your answer.

 

Paper#32368 | Written in 18-Jul-2015

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