Tax

Tag: TE

  • Technical Advice Memorandum

    About Technical Advice Memorandum: guidance or advice (also called TAM) as to the internal revenue laws and regulations with respect to specific facts, furnished by the National Office on the request of a district office or an Appeals Office….

  • Testamentary Disposition

    Testamentary Disposition means:a disposition made by will, which therefore takes effect at the death of the maker. See Inheritance Tax and Inheritance Tax….

  • Temporary Job

    Temporary Job means:a job that is expected to last less than 1 year. Travel expenses for a temporary job are deductible. See also other Tax Terms and Definitions in U.S.A. away from home….

  • Testator

    Testator means:a person (female: testatrix) who makes a will. In the absence of a will, the property passes to the decedent's heirs according to applicable state law, or it may revert (escheat) right to the state….

  • Termination Assessment

    Termination Assessment means:an assessment of tax deficiency that ends the tax year only for purposes of calculating the amount of tax that becomes immediately due and payable. The U.S. Internal Revenue Service must issue a notice of deficiency within 60 days of the due date of the tax return fo…

  • Testament

    Testament means:a will, generally used to dispose of personal property after death. Common usage employs the words will, testament, and last will and testament as synonyms. See Inheritance Tax and Inheritan…

  • Tenancy In Common

    Tenancy In Common means:ownership of realty by two or more persons, each of whom has an undivided interest, without the right of survivorship. Upon the death of one of the owners, the ownership share of the decedent is inherited by the party or parties designated in the decedent's will. See also…

  • Term Life Insurance

    Term Life Insurance means:insurance coverage that stays in effect for only a specified, limited period. If the insured dies within that period, the beneficiary receives the normally tax-free death payments. If the insured survives, the policy ends, and the beneficiary receives nothing. See <a hr…

  • Termite Damage

    Termite Damage means:insect damage that does not qualify as a casualty loss because the damage is not sudden and unexpected….

  • Testate

    Testate means:having made a valid will. Contrast intestate….