Category
Tax terms
Tax affects almost every financial decision a person or business makes. These terms explain how taxes are worked out, what can be deducted and the language tax authorities use, though the rules differ from country to country. 480 Tax terms are explained below, each with real-world examples.
- Ability to Pay
- Ability-to-Pay Taxation
- Above the Line Deduction
- Abusive Tax Shelter
- Accumulated Earnings and Profits
- Accumulated Earnings and Profits (E&P)
- Accumulated Earnings Tax
- ACRS
- Ad Valorem Tax
- Additional Child Tax Credit (ACTC)
- Adjusted Basis
- Adjusted Cost Base
- Advance Corporation Tax (ACT)
- Advance Premium Tax Credit (APTC)
- Affiliated Group
- After-Tax Basis
- Airport Tax
- Alternative Depreciation System (ADS)
- Alternative Fuels Credit
- Alternative Motor Vehicle Credit
- Alternative Tax Net Operating Loss (ATNOL)
- Amended Return
- American Taxpayer Relief Act of 2012
- Amount Realized
- Amount Recognized
- Annual Investment Allowance
- Annualized Income Installment Method
- Applicable Federal Rate
- Assessable Profit
- Asset Depreciation Range (ADR)
- At Risk Rules
- Attribution Rules
- Average Cost Basis Method
- Away From Home
- Bank Levy
- Bargain Sale to a Charitable Organization
- Bed and Breakfast Deal
- Benefits Received Rule
- Bilateral Tax Agreement
- Blind Taxpayer
- Bona Fide Foreign Resident
- Bond Washing
- Boot
- Border Adjustment Tax
- Bracket Creep
- Break-Even Tax Rate
- Buffett Rule
- Bush Tax Cuts
- Business Tax Credits
- Canadian Dividend Tax Credit
- Cancellation of Debt
- Capital Asset
- Capital Cost Allowance
- Capital Dividend
- Capital Gains Distribution
- Capital Gains Treatment
- Capital Loss Carryover
- Capital Tax
- Carbon Dioxide Tax
- Carryover Basis
- Carryover Provision
- Cascade Tax
- Cash Basis Taxpayer
- Casualty and Theft Losses
- CCA
- CCRA
- CFC
- Chargeable Gain
- Charitable Donation
- Child and Dependent Care Credit
- Clearance Certificate
- Combat Pay
- Combat Zone
- Community Income
- Conduit Theory
- Consolidated Tax Return
- Constant Yield Method
- Constructive Dividend
- Constructive Receipt
- Constructive Sale Rule
- Contingent Payment Sale
- Continuity of Business Enterprise Doctrine
- Convenience of Employer Test
- Conveyance Tax
- Corporate Inversion
- Correspondence Audit
- Covered Security
- Credit Shelter Trust
- Crummey Trust
- Crummeypower
- De Minimis Tax Rule
- Deadweight Loss of Taxation
- Death Taxes
- Deduction
- Deferred Gain on Sale of Home
- Deferred Income Tax
- Dependent
- Dependent Care Benefits
- Dependent Care FSA
- Depreciable Property
- Disaster Loss
- Disqualifying Income
- Distributable Net Income
- Dividend Exclusion
- Dividend Imputation
- Dividend Tax Credit
- Dividends Received Deduction
- Double Irish With A Dutch Sandwich
- Double Taxing
- Drawback
- Dual Rate Income Tax
- Dual-Status Taxpayer
- Duty
- Duty Free
- Earnings Stripping
- Economic Growth and Tax Relief Reconciliation Act of 2001
- Economic Recovery Tax Act of 1981
- Education Credit
- Educator Expense Deduction
- Electronic Filing
- Employer Identification Number
- Energy Tax
- Energy Tax Credit
- Enrolled Agent
- Enterprise Investment Scheme or (EIS)
- Estate Freeze
- Excess Profits Tax
- Exclusion Ratio
- Exempt Income
- Exempt-Interest Dividend
- Exemption
- Expatriation Tax
- Federal Subsidy Recapture
- Federal Tax Brackets
- Federal Tax Lien
- Federal Telephone Excise Tax
- Federal Unemployment Tax Act (FUTA)
- Filing Extension
- Filing Status
- Final Return for Decedent
- First-Year Allowance
- Fiveyearrule
- Fixing-Up Expenses
- Flow Through
- Flow-Through Entity
- Foreign Account Tax Compliance Act (FATCA)
- Foreign Housing Exclusion Deduction
- Foreign Sales Corporation
- Foreign Tax Deduction
- Form 843
- Form 1045
- Form 1095-A
- Form 1095-B
- Form 1095-C
- Form 1098
- Form 1310
- Form 2106
- Form 2106-EZ
- Form 2439
- Form 2848
- Form 4070A
- Form 4506
- Form 4562
- Form 4563
- Form 4797
- Form 5405
- Form 6252
- Form 6781
- Form 8282
- Form 8283
- Form 8379
- Form 8396
- Form 8689
- Form 8857
- Form 8949
- Form1078
- Forwardaveraging
- Fractional Gift
- Franchise Tax
- Franked Dividend
- Franked Income
- Franked Investment Income
- Franking Credit
- Free File Fillable Tax Forms
- Fuel Tax Credit
- Full-Time Student
- Gambling Income
- Gambling Loss
- General Business Tax Credit
- General Depreciation System (GDS)
- Gift
- Gift Splitting
- Gifted Stock
- Goods and Services Tax
- Google Tax
- Grantor Retained Annuity Trust (GRAT)
- Grantortrustrules
- Gross Dividends
- Gross Estate
- Gross Receipts
- Gross-Income Test
- Gross-Up
- Guaranteed Payments to Partners
- Gulf Opportunity Zone
- Half-Year Convention for Depreciation
- Hardship Exemption
- Head of Household
- Hidden Tax
- HM Revenue and Customs HMRC
- Hobby Loss
- Holocaust Restitution Payments
- Home Mortgage Interest
- Home Office
- Honorarium
- Hope Credit
- Horizontal Equity
- Household Employee
- Imputed Interest
- Inclusion Amount
- Income in Respect of a Decedent
- Income Shifting
- Income Splitting
- Income Spreading
- Income Tax
- Income Tax Payable
- Incremental Tax
- Indian Employment Credit
- Individual Tax Return
- Inherited Stock
- Innocent Spouse Rule
- Installment Sale
- Instrumentality
- Insurance Trust (ILIT)
- Intangible Drilling Costs
- Intangible Personal Property
- Interest Deduction
- Internal Revenue Code
- Investment Interest Expense
- Involuntary Conversion
- Irddeduction
- IRS Form 4868
- IRS Pub 529
- IRS Pub 535
- IRS Pub 536
- IRS Pub 552
- IRS Pub 929
- IRS Pub 931
- IRS Publication 5
- IRS Publication 15-B
- IRS Publication 225
- IRS Publication 334
- IRS Publication 463
- IRS Publication 501
- IRS Publication 519
- IRS Publication 524
- IRS Publication 525
- IRS Publication 527
- IRS Publication 529
- IRS Publication 531
- IRS Publication 538
- IRS Publication 541
- IRS Publication 544
- IRS Publication 550
- IRS Publication 551
- IRS Publication 556
- IRS Publication 557
- IRS Publication 571
- IRS Publication 575
- IRS Publication 590-A
- IRS Publication 590-B
- IRS Publication 908
- IRS Publication 939
- IRS Publication 970
- IRS Publication 972
- Joint Return
- Land Value Tax
- Lifelong Learning Plan
- Like Kindproperty
- Limited-Purpose Flexible Spending Arrangement (LPFSA)
- Line of Business Limitations
- Listed Property
- Local Tax
- Long Income Housing Tax Credit
- Long-Term Capital Gain or Loss
- Loss Carryback
- Loss Carryforward
- Lucas Wedge
- Luxury Automobile Limitations
- Luxury Tax
- MACRS
- Material Participation Test
- Medical Expenses
- Medicarewages
- MFJ
- MFS
- Mill Rate
- Minimum Interest Rules
- Miscellaneous Tax Credits
- Multiple Support Agreement
- National Insurance Contributions Nic
- Non Covered Security
- Non Resident Entertainers Tax
- Nonpassive Income and Losses
- Nonqualifieddistribution
- Nonresident
- Nonresident Alien
- Nontaxabledividend
- Notice of Deficiency
- Nr6 Form
- NSO
- Offer in Compromise (OIC)
- Ordinary Loss
- Orphan Drug Credit
- Over-55 Home Sale Exemption
- Overwithholding
- P45 Form
- Parsonage Allowance
- Passive Activity Loss Rules
- Passiveactivity
- Passiveloss
- PATH Act
- Pay As You Earn
- Percentage Depletion
- Personal Exemption
- Personal Service Corporation
- Personaluseproperty
- PFIC (Passive Foreign Investment Company)
- Phantom Income
- Phaseout
- Pickuptax
- Placed in Service
- Portfolio Income
- Preparer Tax Identification Number (PTIN)
- Principal Private Residence Canada
- Principalresidence
- Private Foundation
- Private Letter Ruling (PLR)
- Profits Interest
- Proof Charitable Contributions
- Property Tax Deduction
- Provisional Income
- QIA
- QTIP
- Qualified Appraisal
- Qualified Electric Vehicle
- Qualified Reservist
- Qualified Small Business Stock (QSBS)
- Qualified Widow or Widower
- Qualifiedtrust
- Qualifying Relative
- Qualifying Widow
- Qualifyingdisposition
- Quid Pro Quo Contribution
- Reassessment
- Recapture
- Recognizedgain
- Refund
- Registered Education Savings Plan (RESP)
- Registered Pension Plan (RPP)
- Registered Retirement Income Fund (RRIF)
- Registered Retirement Savings Plan (RRSP)
- Relationship Test
- Rentalreal Estate Loss Allowance
- Replacement Property
- Research Activities Credit
- Residentalien
- Retentiontax
- Revenue Officer
- Revenue Ruling
- Revenueagent
- Reverse Morris Trust
- Revoked Individual Retirement Account (IRA)
- Robo Tax Loss Harvesting
- Schedule K-1
- Schedule L (Form 990)
- Schedulea
- SECA
- Section 988
- Section 1041
- Section 1202
- Section 1231
- Section 1237 Capital Gain Opportunity
- Section 1244 Stock
- Section 1245
- Section 1250
- Section 1256 Contract
- Section 1341 Credit
- Section 7702
- Section419Ewelfarebenefitplan
- See-Through Trust
- Self-Employed Contributions Act (SECA) Tax
- Self-Employed Person
- Separate Return
- Severance Tax
- Short Tax Year
- Short Term Gain
- Short Termloss
- Sin Tax
- Smith Maneuver
- Social Security Tax
- Solidarity Tax
- Special Assessment Tax
- Specific Share Identification
- Specificsharesmethod
- Stamp Duty Land Tax (SDLT)
- Standardmileagerate
- Statutory Employee
- Stealth Taxes
- Student Loan Interest Deduction
- Subchapters
- Substantiallyidenticalsecurity
- Tax
- Tax Advantaged
- Tax Arbitrage
- Tax Drag
- Tax Expense
- Tax Exporting
- Tax Fairness
- Tax Fraud
- Tax Freedom Day
- Tax Freespinoff
- Tax Identification Number
- Tax Indentification Number (TIN)
- Tax Liability
- Tax Preference Item
- Tax Rate
- Tax Reform Act of 1993
- Tax Roll
- Tax Season
- Tax Umbrella
- Taxable Gain
- Taxable Spinoff
- Taxable Wage Base
- Taxableestate
- Taxadvisor
- Taxation
- Taxcourt
- Taxexemptinterest
- Taxgainlossharvesting
- Taxhome
- Taxlien
- Taxlotaccounting
- Taxpayer
- Taxpayer Relief Act of 1997
- Taxschedule
- Taxtable
- TEFRA
- Throwback Rule
- Tipincome
- Tobacco Tax
- Tobin Tax
- Total Tax
- Transfer for Value Rule
- Transfer Price
- Transfer Tax
- Tripletaxfree
- UBTI
- Unadjustedbasis
- Underpaymentpenalty
- Underreporting
- Underwithholding
- Uniform Transfer Tax
- Unlimited Marital Deduction
- Unstatedinterest
- Vehicle Excise Duty
- Washsale
- Welfare Loss of Taxation
- Widows Exemption
- Windfalltax
- Withholding
- Withholding Allowance
- Worthless Securities
- Zero Capital Gains
- Zero-rated Goods
- 83(b) Election
- 90Dayletter
- 419(e) Welfare Benefit Plan
- 501C
- 501C3 Organizations
- 1035 Exchange
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