Tax

Tag: AP

  • Apocalypse Trust

    Apocalypse Trust means:an agreement under which a taxpayer transfers all assets to a trust and also assigns his or her lifetime services to the trust. For example, a doctor or dentist may transfer his or her place of business to a trust. The beneficiaries are generally the taxpayer's family, wit…

  • Appeals Officer

    Appeals Officer means:an U.S. Internal Revenue Service (IRS) employee who has authority” to resolve disputes with a taxpayer, including reaching a compromise, after the taxpayer receives a 30-day letter. The appeals officer may conside…

  • Appreciated Property

    Appreciated Property means:real property, personal property, or intangible property that has fair market values greater than the adjusted basis….

  • Apportionment Method

    Apportionment Method means:the method or formulas used to apportion the total federal business income of an out-of-state entity to determine taxes due the state. One of the methods or formulas used to allocate income and expenses between related enterprises using a formula consisted of some fact…

  • Appreciation

    Appreciation means:the excess of the fair market value of property over the taxpayer's cost or tax basis in such property. Example of Appreciation: Learn more about tax examples, explanations and calculations here. Abel s…

  • Applicable Date

    Applicable Date means:the date 30 days after the U.S. Internal Revenue Service (IRS) sends to the taxpayer a 30-day letter, 90-day letter, or notice of deficiency….

  • Appeal

    Appeal means:to petition a higher court in order to obtain a review of a lower court decision and a reversal of the judgment. For example, a taxpayer or the government may appeal a U.S. Tax Court decision to a Circuit Court of Appeals….

  • Appeals Council

    Appeals Council means:the third level of appeal for a person who disagrees with a Social Security Administration decision on a disability claim. If the Appeals Council determines that there is an issue the judge did not address at the lower appeal level, it will review the case. At this point, a…