Tax

Tag: AL

  • Alimony Recapture

    Alimony Recapture means:the amount of alimony that was previously deductible by the payor but is currently deducted by the recipient and included in gross income by the payor because of excessive front-end loading. The purpose is to prevent the deduction as alimony of a nondeductible property se…

  • Alter Ego Doctrine

    Alter Ego Doctrine means:the doctrine that the law disregards limited personal liability when a person acts in a corporate capacity and regards the act as the individual's personal responsibility. Contrast alter ego theory….

  • Alcohol Fuels Credit

    Alcohol Fuels Credit means:the sum of three (tax) credits: the alcohol mixture credit, the alcohol credit, and the small ethanol producer credit. Former IRC (check if this IRC provision is current here) §40….

  • All Fours

    All Fours means:the situation existing when the facts in two cases or judicial decisions are substantially the same; the cases are then said to run on all fours. When the taxpayer's circumstances are the same as those in a previous case, the taxpayer may place greater reliance on the decision ma…

  • Allocation

    Allocation means:the apportionment or assignment of income or expense (in relation to a taxpayer) for various tax purposes. For example, between permanent establishments in various jurisdictions, or income and expense items of a trust or estate are allocated between the corpus and income compone…

  • Allowable excess trade

    About Allowable excess trade: The Allowable excess trade (also called business deductions) is the is the excess of allowable deductions over income that may be deducted against other types of gross income that are effectively connected with the active conduct of a trade of business. For example, in …