A rule of taxation where if a taxpayer has recovered an expense or loss written off for last years tax, the recovered amount must be included in this years gross […]

The record a company or individual has of financial information needed for tax time.

The range or category of income that is subject to a certain rate of tax.

Anything that allows to reduce to tax payable. See tax exemptions , tax deduction , tax credit.

Tax benefits occured when losses are applied to tax liability for up to three years back. Refer to tax carry forward and tax umbrella.

Tax benefits occured when losses are applied to future tax liability . This can be done for between 5 and 15 years. AKA carry forward loss. Refer to tax carry […]

The proof of payment of taxes due on a property or income that is official.

Where the received tax benefits from a business venture are reinvested back into business.

The official regulations provided by the IRS that are enforced on citizens of USA.

the name of a federal court of law that deals with tax disputes.

Income tax that is prepaid that is offset against the total tax payable on his income.

The debt that is associated by failing to pay tax to state and federal governments.

Tax collecting method used in India on incomes. Tax is always paid on the preceding year.

The interest amount that can be deducted with the permission of tax authorities from a tax payer’s income that is taxable.

The fixed percentage or amount that tax authorities allow a tax payer to subtract from the adjusted gross income to get to the taxable income .

a term that is used to describe the expenses that are deductible from a person’s income taxes.

A legal instrument transferring title that is absolute to the buyer of the property sold for not paying taxes when the redemption period has expired. See also tax sale certificate […]

An annuity where the income tax on invested income isn’t charged during the period of investment and is postponed until the annuitant is receiving payments periodically.

Income that is taxable where the tax payment can be made at a specified time after the earning of the income.

An investment that is taxable where tax payment can be made at a specified time after making the investment.

Income that is taxable and deposited in an approved scheme of savings where the tax is postponed until maturity or any funds are drawn from it.

An area geographically, with the same calculations for tax.

1. Percentage of a pre-tax return that is realizable on a financial instrument by the taxable investor after having paid a tax liability . 2. Element of a financial instrument […]

Lease agreement provision where the tenant pays tax increases on the property. See tax participation clause .

The illegal attempt to reduce your tax amount payable by fraudulent means.