Category: D
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Disaster Loss
Disaster Loss means:the loss from a disaster in an area declared by the President as warranting federal assistance. A taxpayer may elect to claim a casualty loss on the tax return for the previous year anytime on or before the later of (1) the due date of the tax return for the year of […]
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1099-DIV
Description and Definition of 1099-DIV Form 1099-DIV is a statement from your broker, a mutual fund, or a company whose stock you own that summarizes the dividends you were paid. The purpose of Form 1099-DIV is to report the dividends you received, income tax withheld from dividends, and […]
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Deductible Health Plan
High Deductible Health Plan Issue You may find information about High Deductible Health Plan in this Tax Platform of the American Encyclopedia of Law.
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Depreciation
Depreciation means: an accounting technique in which the cost of an asset is allocated over its useful life. A deduction to reflect the gradual loss of value of business property as it wears out. Former IRC (check if this IRC provision is current here) §167. See Accelerated Cost Recovery […]
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Dividends
Description and Definition of Dividends That portion of a corporation's earnings and profits which is paid to the stockholders on a per share basis. Most dividends are taxable. The distributions may be ordinary dividends, capital gain distributions, or nontaxable distributions. Companies […]
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Dependent Care Credit
Description and Definition of Child and Dependent Care Credit A tax credit of up to 30% based on certain care expenses you paid for the care of your children or other dependents to allow you to work. The credit can save as much as $720 off your tax bill if you pay for the care…
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Depreciation Recapture
Depreciation Recapture is used. when personal property is sold at a gain, the gain is ordinary income to the extent of depreciation previously deducted; when real property is sold at a gain and accelerated depreciation has been claimed, the taxpayer may be required to pay a tax at the ordinary […]
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Decedent’s Estates
Decedent’s Estates Income Taxation of Decedent’s Estates A decedent’s estate is a separate legal entity for federal tax purposes. A decedent’s estates comes into existence at the time of death of an individual. A decedent’s estate figures its gross income in much the same manner as an individual. Most deductions and credits allowed to individuals…
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Delegation Orders
Delegation Orders Delegation Orders are orders by the Commissioner of the IRS to delegate his/her authority to settle civil or criminal tax cases under I.R.C. §7122 to subordinates. See Rev. Proc. 80-6, 1980-1 C.B. 586. Some Delegation Orders 1. Delegation Order No. 156 (Rev. 12) Internal Revenue Service 1990-2 C.B. 327 Delegation Order No. 156…
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Daily Tax Report
Daily Tax Report (Source: BNA) Details What this service is: This uniquely detailed notification service helps you thoroughly monitor the full spectrum of issues in taxation, pensions, and accounting, every business day — supplemented with daily e-mail alerts and access to full-text documents. What it helps you do: Keep up with all major tax-related federal…