tax

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tax

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

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,
n.pl 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),
n.pr 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,
n.pl investments that reduce, remove, or defer income from state and federal income tax liability.
References in periodicals archive ?
The taxpayer was an attorney who won a large class-action lawsuit in 1999.
Now, with a federal budget awash in deficits, there is little discussion in Washington about raising the IRC section 121 exclusion figures or indexing them for inflation (though President Bush's Blue Ribbon Tax Reform Panel recently recommended raising the exclusion to $300,000 for single taxpayers and $600,000 for married ones filing jointly).
If the item of QPP is MPGE in whole by the taxpayer in the United States, the application of the rules is relatively easy and receipts from the lease, rental, license, sale, exchange, or other disposition of the QPP will generally be considered to be DPGR, though taxpayers will need to take into account other rules, such as those for embedded services.
Doubt as to collectibility: the taxpayer cannot afford to pay the amount.
Meyer noted that the IRS is flexible regarding responses to audit notices and is willing to extend extra time to taxpayers or their representatives who request it to gather necessary information.
The CAP initiative gives taxpayers a fast and focused process to challenge IRS collection actions.
If the "derived from" standard applies this broadly, taxpayers may be able to sell, reacquire, and resell (or lease) its QPP numerous times, irrespective of intervening breaks in ownership.
1031(a)(3) requires a taxpayer to identify qualifying exchange replacement property within 45 days after closing the sale of a relinquished property.
The taxpayer used the dollar-value, inventory price index computation (IPIC) LIFO method.
Taxpayers must capitalize the costs of prepaid expenses, such as prepaid insurance and prepaid rent.
Also, taxpayers in the trade or business of farming are excluded from using this notice.