Description
Business Regulations
- Identify one agency, bureau or department within the federal government responsible for upholding regulations that impact business operations. A few examples are the Environmental Protection Agency (EPA), Internal Revenue Service (IRS), Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) or Department of Commerce. Research and explain the purpose of the agency, bureau and how it directly impacts business.
The requirements below must be met for your paper to be accepted and graded:
- Write between 750 – 1,250 words (approximately 3 – 5 pages) using Microsoft Word in APA style, see example below.
- Use font size 12 and 1” margins.
- Include cover page and reference page.
- At least 80% of your paper must be original content/writing.
- No more than 20% of your content/information may come from references.
- Use at least three references from outside the course material, one reference must be from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement.
- Cite all reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the paper and list on a reference page in APA style.
References must come from sources such as, scholarly journals found in EBSCOhost, CNN, online newspapers such as, The Wall Street Journal, government websites, etc. Sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable for academic writing.
A detailed explanation of how to cite a source using APA can be found here (link).
Download an example here
| Grading Criteria Assignments | Maximum Points |
| Meets or exceeds established assignment criteria | 40 |
| Demonstrates an understanding of lesson concepts | 20 |
| Clearly presents well-reasoned ideas and concepts | 30 |
| Uses proper mechanics, punctuation, sentence structure, and spelling | 10 |
| Total | 100 |
Explanation & Answer
Attached.
Running Head: BUSINESS REGULATIONS
Internal Revenue Service (IRS)
Student’s Name:
Instructor’s Name:
Course:
Date:
1
BUSINESS REGULATIONS
2
In 1860s America needed revenue to pay for the costs resulted by the onset of the Civil
War, due to this, Congress and President Lincoln put in place the first income tax under the
Revenue Act of 1862. Also, the law stipulated an office under the revenue collection which was
headed by the Commissioner of Internal Revenue. Although the law was not a permanent bill, it
significantly symbolized the first step towards progressive taxation in the United States of
America. Since an agency was needed to head the tax collection duties, the Bureau of Internal
Revenue was formed which later came to be known as Internal Revenue Service.
The Internal Revenue Service is a bureau under the Treasury Department of the United
States federal government. Its primary function is to ensure that all tax laws are followed by all
businesses and organizations in the United States of America. Besides, it is mandated to control
and conduct the collection of federal income taxes except those relating to alcohol, tobacco,
firearms, and explosives. It also sets the standards and qualifications of the pension plan for all
taxpayers.
The organization...
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