Tag: EX
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Expense Deduction
Teachers Expense Deduction Issue You may find information about Teachers Expense Deduction in this Tax Platform of the American Encyclopedia of Law.
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Executive Orders
Executive Orders Executive Orders are orders by the President of the United States (see more about this piece of legislation in the American Encyclopedia of Law) that have legal effect, including orders that give certain effects to provisions of the Internal Revenue Code. When information about IRS Executive Orders are not yet available on the…
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Exempt Organization
About Exempt Organization: Former IRC (check if this IRC provision is current here) §501. See not-for-profit organization….
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Expense
About Expense: costs that are currently deductible, as opposed to capital expenditures, which may not be currently deducted but must be depreciated or amortized over the useful life of the property. Certain costs may be expensed for accounting purposes but may not be deductible or may only be deduct…
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Exemption Equivalent Amount
About Exemption Equivalent Amount: for purpose of the federal estate and gift tax, taxable transfers (currently $600,000) made during life or at death that are exactly offset by the unified credit ($192,800 in 1994) and therefore are not taxable. Former IRC (check <a href="http://lawi.us/internal-re…
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Excess Business Holdings
Excess Business Holdings is used. with respect to the holdings of any private foundation in any business enterprise, the amount of stock or other interest in the enterprise that the foundation would have to dispose of to anyone other than a disqualifying person in order for the remaining holdings of…
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Extended Period of Eligibility
Extended Period of Eligibility is. one of four specific incentives under the Social Security disability work incentive program to encourage disabled persons to return to work. Under this incentive, if a worker is still disabled for 36 months after a successful trial work period, he or she will be el…
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Executory
Executory is. not fully accomplished or completed, but contingent upon the occurrence of some event or the performance of some act in the future; not vested; the opposite of executed. See also other Tax Terms and Definitions in U.S.A. restricted property….
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Excess Contributions
Excess Contributions are. contributions to cash or deferred arrangements for highly compensated employees in excess of the amount allowed under nondiscrimination rules. The excess contribution must be recharacterized as an employee contribution or distributed (in addition to any income earned) to th…
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Exploration Costs
About Exploration Costs: for solid minerals, the costs of prospecting and exploration to discover mineral deposits. In general, exploration costs are deductible as they are paid or incurred, or they may be capitalized and amortized. If deducted, these costs are subject to recapture when the mine bec…