year

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year

(yēr),
An approximately 365-day period, the time the earth takes to revolve around the sun.
[O.E. gēar ]
References in periodicals archive ?
The recapture rules also do not apply if either spouse dies or the payee spouse remarries, thus causing the alimony payments to cease before the close of the third calendar year. (19) This is true even though recapture would have been required absent the death or remarriage.
Excessco has not changed its tax year within the previous 10 calendar years ending with 1996.
467 rental agreement is defined as any rental agreement for the use of tangible property under which either (11 there is at least one amount stated in the agreement as being allocable to the use of property during a calendar year that is to be paid after the close of the calendar year following the year in which such use occurs, i.e., the rent is deferred for more than one year and the rent is stated in the agreement as being allocable to a specific calendar year, or (2) there are increases in the amount to be paid as rent under the agreement, i.e., stepped rent (Sec.
The corporation has not changed its year-end in the last 10 calendar years.
The form generally is valid from the date of signature and for the three succeeding calendar years, unless there is a change of circumstances making any information on the form incorrect.
The S corporation's first tax return will be for the 2001 calendar year.
For IRAs, the new RMD rules are proposed to be effective for distributions for calendar years beginning after 2001.
The revenue procedure decreases the period of time a taxpayer must wait for automatic approval between accounting-period changes from six calendar years to 48 months.
When the provision requiring calendar years for pass-through entities was enacted in 1986, it was expected to raise $1.7 billion in additional taxes over a five-year period.
The 1986 Tax Reform Act required trusts, partnerships, S corporations and personal service corporations to adopt calendar years for tax purposes as a way to pay for a liberalization of the low-income housing credit.
Each retiring general partner is entitled to 150% of the partner's highest annual calendar-year compensation during the final four years of service; each retiring special partner is entitled to 100% of the partner's average annual calendar-year compensation during the final five calendar years. Payments are reduced if a partner does not reach a certain minimum number of years of service.
They are effective for amounts deferred in calendar years beginning after December 31, 2004, as well as to income attributable to such amounts.