Category: A

  • Adoption

    Adoption Issue You may find information about Adoption in this Tax Platform of the American Encyclopedia of Law.

  • Audit

    Tax Audit Audit means: an examination and verification, in a taxation context, of a taxpayer's books and records by the U.S. Internal Revenue Service. Examination and verification carried out by an outside agency (such as an accountancy firm or the tax authorities) of a taxpayer's books and […]

  • Assault

    Assault Issue You may find information about Assault in this Tax Platform of the American Encyclopedia of Law.

  • Attorneys' Fee Awards

    Description and Definition of Attorneys' Fee Awards If you litigate with the IRS in Tax Court or another federal court and win and you can show that the IRS's position was unreasonable you may be entitled to a certain amount for attorneys' fees and other litigation expenses. […]

  • Applicable Federal Rate

    Applicable Federal Rate means:an interest rate determined monthly and based on the rate paid by the federal government on borrowed funds. An AFR is provided for short-term, mid-term, and long-term debt. If a seller-financed mortgage provides a rate that is less than the AFR, interest […]

  • Accountant's Equation

    Description and Definition of Accountant's Equation Accountant's Equation is the equation which is the basis of a balance sheet. It is as follows: Assets = Liabilities + Owners' Equity. Resources See Also Further Reading Accountant's Equation in the West's Tax Law […]

  • Averaging

    Description and Definition of Averaging If you receive a lump-sum distribution from a pension plan you can elect either five year or ten year averaging on Form 4972 if you were born before 1936 or are 591/2 or over provided you participated in the plan for at least five years. Resources See […]

  • Applicable Exclusion Amount

    Applicable Exclusion Amount Issue You may find information about Applicable Exclusion Amount in this Tax Platform of the American Encyclopedia of Law.

  • Asset

    Asset means:anything owned that has value; any interest in real property or personal property that can be used for payment of debts. Assets are listed on Schedule L of the corporate tax return. See Corporate Tax in the U.S. Legal Encyclopedia and Corporate Tax in the International Legal […]

  • Annuity

    Annuity means:a contract or agreement sold by commercial insurance companies that pays a monthly (or quarterly, semiannual, or annual) income benefit for the life of a person (the annuitant), for the lives of two or more persons, or for another specified period of time. No income is […]