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Vox populi Monies paid to a governing body. See Dean's tax, Fat tax, Provider tax, Sin tax.


n a ratable portion of the proceeds or value of the property and labor of the citizen; any contribution imposed by government for the use and service of the state.
tax brackets, the income intervals of the graduated income tax law that establish the rate of tax for each level of income.
Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), legislation (Public Law 97-248) affecting health maintenance organizations and the Medicare and Medicaid programs. Provides regulations for the development of HMO risk contracting with the Medicare program and, through an amendment, establishes new provisions for the foundation and operation of peer review organizations.
tax planning,
n making business and investment decisions based on estimated income and current and projected tax laws.
tax shelter investments, investments that reduce, remove, or defer income from state and federal income tax liability.
References in periodicals archive ?
In such a case, it will grant relief only when the taxpayer provides strong proof that the decision to seek relief did not involve hindsight.
Let's consider a simple example in which Mary, an unmarried taxpayer, buys a house for $210,000 and uses it as her principal residence from years one to five.
Under the shrinkback rule, if the property offered for sale does not meet the requirements of DPGR, the taxpayer must treat as the "item" any portion of the property offered for sale that meets the requirements.
The IRS encourages the taxpayer to pay as much of the bill as possible to reduce the amount of penalties and interest owed.
It matters not whether the taxpayer signs and dates Form 2848 before the CPA or other qualified individual signs and dates the form.
Generally, the Appeals Officer's decision is communicated to both the taxpayer and the Revenue Officer involved.
Under this rule, even if the taxpayer's production activities involve parts, components, or even finished products manufactured abroad or by unrelated parties, the taxpayer is entitled to include in its own DPGR the entire sales price of QPP as long as the activities that the taxpayer performs on that item independently satisfy either the "substantial in nature" standard or the 20-percent safe harbor.
In a forward exchange, the taxpayer typically uses the net proceeds from the sale of the relinquished property as a partial or full payment for the replacement property.
If the taxpayer voluntarily makes this change by filing Form 3115, Application for Change in Accounting Method, the change generally would qualify as an automatic change under Section 10.
For example, if a taxpayer prepays a 12-month insurance contract in December 2004, but the policy does not take effect until February 2005, the benefit of the payment would last until February 2006.
For many years, the IRS clashed over the cash method of accounting with small business taxpayers who provided services as the mainstay of their business but who were categorized as inventory resellers by the IRS because they provided some type of merchandise in addition to the services.

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