Tax

Tag: JO

  • Joint Tenants

    Description and Definition of Joint Tenants Ownership by two persons. Under joint tenancy with rights of survivorship when one tenant dies the decedent's interest passes to the survivor. Resources See Also Further Reading Joint Tenants in the West's Tax Law Dictionary Joint Tenants in […]

  • Joint Return

    Joint Return means:a tax return filed by a husband and wife, setting forth tax information concerning each of them, and computing a combined tax liability. Taxable income is calculated with progressive rates based on the assumption that the couple's income is earned equally by the […]

  • Joint Return Test

    Description and Definition of Joint Return Test One of the five tests a person must meet to qualify as your dependent. The person must not file a joint tax return with his or her spouse for the tax year in which you claim the person as a dependent to meet this test. This test does…

  • Joint Economic Committee of Congress

    Joint Economic Committee of Congress means:a joint House and Senate committee that concerns itself with significant economic matters. It is also charged with keeping abreast of important economic developments in order to inform Congress about them….

  • Joint Spousal Trust

    Joint Spousal Trust means:a trust created jointly by a husband and wife to which appreciated property is transferred and in which each spouse has a general power of appointment over the property so that the property is included in the gross estate of the first to die. The purpose of this techniq…

  • John Doe Summons

    John Doe Summons means:a third-party summons that does not identify the taxpayer (for example, one to a tax preparer or tax shelter promoter)….

  • Joint Venture

    Joint Venture means:an agreement by two or more parties to work on a project together. Term which is loosely used to describe a relationship between parties carrying on an undertaking in common for their individual or common gain. A joint venture, which is usually limited to one project, differs…

  • Joint Committee Review

    Joint Committee Review means:an U.S. Internal Revenue Service (IRS) examination of an amended tax return or claim for refund, required when the refund owed is in excess of $ 1 million. No credit or refund is released to the taxpayer un…

  • Joint Tenancy

    Joint Tenancy means:joint control over property or interest only during the lifetime of the tenants, recognized in most states. Upon the death of a joint tenant, the property or interest passes automatically to the surviving joint tenant. Former IRC (check <a href="http://lawi.us/internal-revenu…

  • Job Hunting Expenses

    Job Hunting Expenses means:the expenses of looking for a new job in the same line of work, whether or not a new job is found; fees paid to an employment agency are miscellaneous itemized deductions, subject to the 2% Adjusted Gross Income floor…