Annuity Tables
Annuity Tables Issue You may find information about Annuity Tables in this Tax Platform of the American Encyclopedia of Law.
Basil Wilson
Non-recourse Financing
Description and Definition of Non-recourse Financing A debt for which a borrower is not personally liable. In case of nonpayment the creditor must foreclose on the property securing the debt. The At-Risk Rules generally disallow losses from investments with non-recourse financing but an […]
Formal Tax Legislation Process
Description and Definition of Formal Tax Legislation Process The process of Congress passing a tax bill and the President signing it into law. Resources See Also Further Reading Formal Tax Legislation Process in the West's Tax Law Dictionary Formal Tax Legislation Process in "A […]
Value Added
Description and Definition of Value Added Increases in the sales value of an item through production. Resources See Also Further Reading Value Added in the West's Tax Law Dictionary Value Added in "A Dictionary of Taxation"
Household Employee
Description and Definition of Household Employee Someone you employ in your household to care for your children, clean your house, cook, or provide other household services. If you have a household employee you may be obligated to withhold and pay Social Security and Medicare taxes (FICA). You […]
Individual Retirement Arrangement
Description and Definition of Individual Retirement Arrangement (IRA) A retirement account to which $2,000 or 100% of the compensation you earned during the year, whichever is less, may be contributed annually. Deductions for the contribution are restricted if you are covered by a company […]
Direct Tax
Description and Definition of Direct Tax A tax that is paid directly. A direct tax cannot be shifted to others. Indirect taxes, such as tariffs and business taxes, can be shifted to others. A good example of a direct tax is the Federal income tax. Resources See Also Further Reading Direct Tax […]
Buying on Margin
Description and Definition of Buying on Margin Purchasing securities with borrowed money. Resources See Also Further Reading Buying on Margin in the West's Tax Law Dictionary Buying on Margin in "A Dictionary of Taxation"
Earned Income Credit
Description and Definition of Earned Income Credit (EIC) A refundable credit for low-income taxpayers with earned income. Low-income workers can file a tax return to get an earned income credit, even if no income tax was withheld from the worker's pay. Resources See Also Further Reading […]
Individual Taxpayer Identification Number
Description and Definition of Individual Taxpayer Identification Number (ITIN) A taxpayer identification number for persons who do not qualify for a social security number. It is usually assigned to aliens. Resources See Also Further Reading Individual Taxpayer Identification Number (ITIN) in […]