摘要: Securities that have a market value of zero. Worthless securities can include stocks or bonds that are either publicly traded or privately held. These securities result in a capital loss for the owner[阅读全文:]
摘要: A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in t[阅读全文:]
摘要: A tax levied by governments against certain industries when economic conditions allow those industries to experience above-average profits. Windfall taxes are primarily levied on the companies in the [阅读全文:]
摘要: An assumption by the IRS that interest on a loan has been paid if the stated interest rate is below a minimum.
You must state the interest paid on an installment agreement, otherwise the[阅读全文:]
摘要: A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. Value-[阅读全文:]
摘要: A method of collecting income tax in which the taxes paid increase with the amount of earned income. The driving principle behind vertical equity is the notion that those who are more able to pay taxe[阅读全文:]
摘要: An assumption or principle that taxpayers will comply with tax laws and, more importantly, accurately report their income and deductions honestly.
This is one of those "ideal world" pr[阅读全文:]
摘要: An IRS program that utilizes volunteers to help provide free tax preparation services to low-income taxpayers. These services are provided at a variety of public locations such as libraries, schools a[阅读全文:]
摘要: A type of depreciation-recapture income that is realized on the sale of depreciable real estate. Unrecaptured Section 1250 income is taxed at a 25% maximum capital-gains rate (or less in some cases). [阅读全文:]
摘要: The deliberate act of reporting less income or revenue than was actually received, usually for income tax purposes. Under-reporting income in order to avoid taxes is an illegal practice.
When [阅读全文:]