Category: R

Reimbursement means:the payment of an employee or another party for incurred expenses or losses. The payment of an employee or another party for incurred expenses or losses. For example, an employer may reimburse an employee for travel and entertainment expenses, thereby making such expenses ded…

Remainder means:the part of an estate or trust that is left upon the termination of the immediately preceding estate (often a life estate or estate for a term of years) or trust and that does not amount to a reversion to the original grantor or his or her heirs. Example of Remainder: <a href="h…

Revoke means:to recall, by the IRS, a revenue ruling, a revenue procedure, an acquiescence, or a nonacquiescence….

Reverse Triangular Merger means:the tax free statutory merger of a controlled subsidiary into an unrelated corporation using the voting stock of the controlled subsidiary's parent. See also triangular A-type merger. Former IRC (check if …

Reassessment means:the process of revising or updating the value estimate of property for Ad Valorem tax purposes. Local property tax assessors are required to periodically conduct a reassessment of all property. Value estimates are revised based on…

The Revocable Transfers are. transfers of property in which the transfer may be rescinded (or revoked). Because of this possibility, the property will be included in the transferor's gross estate upon death. Former IRC (check if this IRC pro…

The Repairs are. the work performed to return property to a former condition without extending its useful life, as distinguished from capital expenditures. In income property, repairs are an operating expense for tax purposes. For example, patching a hole in a roof (but not replacing the roof) and m…