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Lesson 1: Introduction to Taxation and How to Research
How Is Tax Law Created?
With the constitutional ability to create income tax law, Congress immediately began. Many times people seem to think that it’s really the Internal Revenue Service behind all of the taxes and tax law, but it's not. Let’s review how a federal law is made with an oldie but a goody in Video 1.1. You may know this one.
That is how it's done. Tax law is created just like any other federal law. Figure 1.1 shows the process in a flowchart to help you grasp how tax law originates and progresses to its final passage.
The following process describes the flowchart in Figure 1.1 in a little more detail:
- To begin, the Department of Treasury drafts recommendations for tax laws from the president.
- Because all laws must originate in the House of Representatives, the Department of Treasury presents its recommendations to the House Committee on Ways and Means. This committee then creates what is known as the “House version” of the tax law, which it presents to the entire House of Representatives for a vote.
- With a vote, the House of Representatives passes its version of the tax law.
- The House version goes to the Senate Finance Committee. Two things can happen from here:
- Either the committee agrees with the House version and sends it to the Senate for a vote, or
- the committee makes amendments to the House version and sends the amended version to the Senate for a vote.
- With a vote, the Senate passes its version of the tax law:
- If it's the same as the House version, then it goes to the president to sign.
- If it's the amended version, then a Conference Committee is appointed to merge the two bills. This committee is made up of members from both the House of Representatives and the Senate.
- The Conference Committee modifies both bills into a single one that's likely to get the most votes from each house.
- With a vote, both the House and Senate pass the newly revised bill.
- Finally, the president signs the bill into tax law.
And that's the rest of the story. It was the acts of the Congresses and presidents over the past 100 years that have created the tax law as it stands today. The Internal Revenue Service doesn't come into it until the tax law is already ratified by Congress and the president. The Internal Revenue Service doesn't make the law, but it does organize and police it so that average taxpayers can pay their taxes and that those who don’t are identified.