Slide 6 of 22
Notes:
- XML schemas must have a unique root element. In this case, it’s TaXML.
- There would of course, need to be elements for authentication, signon, and versioning. This is not addressed in this hierarchy except for a couple of placeholders. As security and transmissions needs are determined, this part of the schema will be filled
- Individual Tax is the top level for both federal and state income tax for individuals.
- I’m showing Corporate Tax as an example of the level at which another entity would appear in the hierarchy. This could be included as an actual part of the schema, by including it through a namespace or a data island.
- Also, this type of schema could be used to transmit information from employers and financial institutions to the IRS.
