Tax

Category: D

  • Dissolution

    Dissolution means, in corporation law, the end of the legal existence of a corporation, whether by expiration of charter, decree of court, act of legislature, vote of shareholders, or other means: A corporation can be liquidated under any one of a number of IRC sections. See also other Tax Terms and…

  • Disappearing Basis

    Disappearing Basis means, in a redemption, the denial to a shareholder of a basis offset for the stock he or she sells even when the dividend is not covered by earnings and profits. Former Revenue Ruling (check <a href="http://lawi.us/revenue-ruling-index…

  • Defaulted Interest

    Defaulted Interest means (see more about entries related to interest in the U.S. here) interest that has not been paid on time. The fact that a debtor has failed to make timely payments of interest and principal as they come due does not transform the unpai…

  • Discount

    Discount may have one of the following meanings, depending the context of the term: 1. the difference between a bond's current market price and its face value. 2. a manner of selling securities such as U.S. Treasury bills, which are issued at less than face value and are redeemed at face value; the …

  • De Minimis

    De Minimis is. of insufficient significance to warrant judicial or tax attention, as in the case of nontaxable de minimis fringe benefits. De minimis reflects the judicial principle of de minimis non curat lex (“the law does not concern itself with trifles”).U.S. and other Developed Countries In…

  • Dual Resident

    Dual Resident means:a taxpayer who is a resident of two countries. Most U.S. tax treaties with other countries contain a “tiebreaker” provision that determines the country of residence of a person who is a resident of both countries.U.S. and other Developed Countries International Tax Meanin…

  • Death Benefits

    The Death Benefits are. payments to a deceased employee's surviving spouse or children, which are tax-free up to a total of $5,000 (i.e., $5,000 automatic exclusion). Any excess over $5,000 may be considered gift income and hence taxable. This exclusion does not apply to a decedent's accrued salary….

  • Duty

    Duty may have one of the following meanings, depending the context of the term: 1. a tax imposed on the importation, exportation, or consumption of goods. 2. an obligation of a fiduciary or other person in a responsible position.U.S. and other Developed Countries International Tax MeaningCu…

  • Domestic

    About Domestic: Domestic Corporation or Partnership created or organized (or has its place of effective management) in the United States or under the law of the United States or of any U.S. state. Former IRC (check if this IRC provision is c…

  • Domicile

    Domicile means:the permanent home or principal establishment of an individual. Residence is not the same as domicile, since a person can have many transient residences but only one legal domicile, which is the home address to which he or she always intends to return for prolonged periods. The do…