Early Filers Pile on Errors
To err is human — especially this year.
As if doing your tax return wasn’t tricky enough, it’s particularly easy to make mistakes this year, thanks in large part to the economic-stimulus payments sent out in 2008 to nearly 120 million filers. An early sampling of tax returns received by the Internal Revenue Service this year shows about 15% made mistakes involving what’s known as a “recovery rebate credit.” source.
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Description:
This paper develops a Cournot quantity competition model to examine the effect of export tax rebate policy on export performance. The main conclusions drawn are as follows: (i) when a government raises the export rebate rate, the output of final goods for export by the domestic firm increases, while the output of the foreign competitor decreases; (ii) when a government raises the export rebate rate, the profit of the domestic firm increases, while that of the foreign competitor decreases; and (iii) the optimum export rebate rate is positive and greater than 1, indicating that the domestic government not only refunds fully the custom duties paid by the domestic firm on imported intermediate goods, but also offers export subsidies for its export of final goods. To corroborate the conclusions drawn based on the theoretical model, empirical analysis was carried out using the statistical data of China from 1985 to 2002. The test results of Spearman rank correlation coefficient show that China's export tax rebate policy has significant positive correlation with its exports, final domestic consumption, and foreign exchange reserve.
