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: Products on which a value-added tax (VAT) is not levied in countries that use a VAT. Examples of goods that may be zero rated include many types of food and beverage, exported goods, donated goods sol[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: 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: 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 tax penalty enacted on an individual for not paying enough of his or her total estimated tax and withholding. If an individual has an underpayment of estimated tax, they may be required to pay a pen[阅读全文:]
摘要: Inadequate withholding of taxes from wages or other income during the year. Underwithholding will result in a balance due upon filing. Significant underwithholding can result in a nasty surprise for t[阅读全文:]