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).
The allocation of COGS should be relatively straight-forward for most taxpayers eligible for the production deduction.
A taxpayer using this method treats all goods inventoried under the LIFO method that fall within a pool as fungible.
Taxpayers must capitalize costs to obtain, renew, renegotiate, or upgrade a membership or privilege.
For the year in which they would like to change methods, taxpayers should look to the average annual gross receipts for the three prior taxable years.
In a typical VPF, a taxpayer agrees to sell to a counterparty (usually an investment bank) a variable number of shares on a fixed future date in exchange for an upfront cash payment.
The taxpayer will agree to maintain records in respect of the identified transactions and issues.
The taxpayer can file a tax return that complies with all applicable rules.
Although the shrinkback rule should offer opportunities for taxpayers to qualify more receipts as DPGR, the rule may not be easy to apply.
Doubt as to liability: the taxpayer does not believe they owe this amount.