Category: E

  • Employer Identification Number

    About Employer Identification Number: An Employer Identification Number (EIN) is a taxpayer identification number for an entity other than an individual, such as a partnership, corporation, estate, or trust. See Employer Identification Number and Employer Identification Number. A federal […]

  • Elderly

    Volunteer Income Tax Assistance (Vita) and Tax Counseling for the Elderly Issue You may find information about Volunteer Income Tax Assistance (Vita) and Tax Counseling for the Elderly in this Tax Platform of the American Encyclopedia of Law.

  • Earned Income

    Earned Income means:a tax term describing "sweat of the brow" income, which requires obvious effort on the part of the recipient. This includes all income generated by providing goods or services, especially wages and salaries but also net profit from a trade or business; it is […]

  • Easement

    The Easement are. payment received for granting an easement (specific limited use or enjoyment) is usually considered to be from the sale of an interest in real property. The amount received reduces the basis of the affected part of the property. If the amount received exceeds the basis of the […]

  • Enterprise Zone

    Description and Definition of Redevelopment or Enterprise Zone A government designated area that has decayed so badly it is in desperate need of substantial improvements. Resources See Also Further Reading Redevelopment or Enterprise Zone in the West's Tax Law Dictionary Redevelopment or […]

  • Entrepreneur

    Description and Definition of Entrepreneur One who assumes the financial risk and other risks of the initiation, operation, and management of a given business or undertaking. Resources See Also Further Reading Entrepreneur in the West's Tax Law Dictionary Entrepreneur in "A […]

  • Exempt From Withholding

    Description and Definition of Exempt from Withholding Taxpayers can be exempt from having federal income tax withheld if they meet certain income, tax liability, and dependency requirements. Resources See Also Further Reading Exempt from Withholding in the West's Tax Law Dictionary Exempt […]

  • Excess Accelerated Depreciation

    Excess Accelerated Depreciation means:the accumulated difference between the accelerated depreciation claimed for tax purposes and what the straight-line depreciation would have been. Generally, excess accelerated depreciation is recaptured (taxed) as ordinary income upon a sale, instead […]

  • Excise Tax

    Excise Tax means:a tax imposed on an act, occupation, privilege, manufacture, sale, or consumption. In recent years, this term has been applied to just about every tax except the income tax and the property tax. In general, federal, state, and local excise taxes (e.g., on tobacco, […]

  • Excess Distributions

    Description and Definition of Excess Distributions Retirement payments exceeding specified limits. They are subject to a 15% penalty unless rolled over to an IRA or other exceptions are met. Resources See Also Further Reading Excess Distributions in the West's Tax Law Dictionary Excess […]