摘要: A set of rules that prohibits using passive losses to offset earned or ordinary income. Passive activity loss rules prevent investors from using losses incurred from income-producing activities in whi[阅读全文:]
摘要: An association that is given tax-free status. Donations to a nonprofit organization are often tax deductible as well.
Examples of nonprofit organizations are charities, hospitals and sch[阅读全文:]
摘要: A non-U.S. citizen who doesn't pass the green card test or the substantial presence test. If a non-citizen currently has a green card or has had a green card in the past calender year, he or she woul[阅读全文:]
摘要: A type of dividend that is paid to shareholders of a corporation not as a result of earnings, but as a return of capital. Nontaxable distributions can also include stock received from a spinoff. Divid[阅读全文:]
摘要: Dividends from a mutual fund or some other regulated investment company that are not taxed. Taxes are not paid out because the fund invests in municipal and other tax exempt investments.
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摘要: A letter from the Internal Revenue Service that advises a taxpayer about delinquent taxes owed plus any penalties and interest. A notice of deficiency is sometimes also called a 90-day letter because [阅读全文:]
摘要: A letter or written notice from the Internal Revenue Service (IRS) informing the recipient that authorization has been given to liquidate his or her assets in order to cover the income taxes due.
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摘要: A Canada Revenue Service form that must be submitted by non-residents who have received rent from real property or timber royalties in
摘要: A program offered by the IRS to taxpayers who are unable to pay their tax debt. Those who qualify are allowed to make an offer in compromise, which is an offer to pay a lesser amount than that which i[阅读全文:]
摘要: An examination of documents by the Internal Revenue Service (IRS) for a matter that is considered to be reasonably simple.
This type of audit usually takes place at a local IRS office. <[阅读全文:]