Problem 1. Many people believe that the federal income tax is far too complex. But are there good reasons for this complexity? Provide an example of complexity in the Federal individual income tax code and describe the reason lawmakers included the provision in the tax code. Do you believe complexity is a necessary part of the internal revenue code? Explain your answer.
Problem 2. The government allows first year expensing under §179 and bonus depreciation. Why are these provisions included in the Internal Revenue Code? Do you believe the inclusion of these provisions achieved the goals of Congress? Why or why not?