摘要: A section of the IRS code stating that a gain from selling real estate that has been subjected to accelerated depreciation should be treated as ordinary income instead of a capital gain.
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摘要: A type of property that derives more than 80% of its revenue from dwelling units. Residential rental property uses the 27.5 year modified accelerated cost recovery system (MACRS) schedule for deprecia[阅读全文:]
摘要: The payment of punitive damages that are owed as a result of wrongdoing or neglect. Restitution payments are an attempt to restore a person to a previous financial condition that should have persisted[阅读全文:]
摘要: Any type of agreement that requires the buyer to either take or abstain from a specific action. In real estate transactions, restrictive covenants are binding legal obligations written into the deed o[阅读全文:]
摘要: A mandatory tax placed on income that is earned on investments in a country that is not the resident's home country. This only applies to countries that are members of the European Union (EU).
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摘要: The gain or loss of a security in a particular period. The return consists of the income and the capital gains relative on an investment. It is usually quoted as a percentage.
The genera[阅读全文:]
摘要: A person who works for the Internal Revenue Service (IRS) examination department.
Revenue agents are usually responsible for (random) audits.
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摘要: 1. A person working for the Internal Revenue Service (IRS) collections department.
2. Short for Chief Revenue Officer, a person responsible for all revenue-generating functions.
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摘要: A decree issued by the IRS that essentially has the force of law. A revenue ruling outlines the IRS's interpretation of the tax laws and is binding on all IRS employees. Revenue rulings are published[阅读全文:]
摘要: A type of property exchange wherein the replacement property is acquired first, and then the current property is traded away. Reverse exchanges were created in order to help buyers who found a new pro[阅读全文:]