Tax

Tag: VO

  • Voluntary Withholding

    Description and Definition of Voluntary Withholding Asking payers to withhold taxes from the payments they remit to you. To request voluntary withholding file Form W-4. Resources See Also Further Reading Voluntary Withholding in the West's Tax Law Dictionary Voluntary Withholding in […]

  • Voluntary Compliance

    Description and Definition of Voluntary Compliance A voluntary compliance tax system requires citizens to report their income, calculate their tax liability, and file their tax returns on time. The U.S. federal income tax system is based on voluntary compliance. Resources See Also Further […]

  • Volunteer Income Tax Assistance (VITA)

    Description and Definition of Volunteer Income Tax Assistance (VITA) Available in most communities are Volunteer Income Tax Assistance (VITA) sites to help with tax return preparation. If you need help preparing your tax return visit the VITA office nearest you. The service is free to those […]

  • Voluntary Bankruptcy

    Voluntary Bankruptcy means:a legal proceeding that follows a petition of bankruptcy filed by a debtor in the appropriate U.S. district court under the Bankruptcy Act. Voluntary bankruptcy contrasts with involuntary bankruptcy, in which the creditors petition the court to have the debtor judged i…

  • Voting Trust

    Voting Trust means:a trust that results when two or more shareholders in a corporation transfer their shares to one or more persons as trustees. The sole authority of the trustees is to vote the shares during the term of the trust. Certificates of beneficial interest are issued by the trustees t…

  • Voluntary Compliance Resolution Program

    Voluntary Compliance Resolution Program means:a temporary, experimental U.S. Internal Revenue Service (IRS) program permitting an employer meeting certain conditions to voluntarily correct operational defects in qualified retirement pl…

  • Voluntary Employees' Beneficiary Association

    Voluntary Employees' Beneficiary Association means:an association (VEBA) that provides for the payment of life, sickness, or accident benefits to individuals with employment-related bonds. A VEBA is exempt from federal income taxes if no part of its net earnings inures to the private benefit of …

  • Volunteer Income Tax Assistance

    Volunteer Income Tax Assistance means:A volunteer Income Tax Assistance (VITA) is an U.S. Internal Revenue Service (IRS) program to help older, disabled, low-income, and non-English-speaking people file their tax returns. This provides…

  • Voting Stock

    Voting Stock means:shares in a business entity (corporation or company) that entitle the shareholder to voting and proxy rights….