Tag: BL

  • Blind

    Description and Definition of Blind For tax purposes, you are considered blind if: you are totally blind, or your vision with corrective lenses is no better than 20/200 in your best eye, or you have a visual field not greater than 20 degrees. Blind Individuals Issue You may find information […]

  • Blockage Discount

    Blockage Discount means:a discount from fair market value for a decedent's block of assets, taken for purposes of determining the valuation of an estate. Example of Blockage Discount: Learn more about tax examples, explanation…

  • Blue Book

    Blue Book means:a general explanation of a tax act, prepared by the staff of the Joint Committee on Taxation. The U.S. Internal Revenue Service does not accept the explanations in the Blue Book as having legal effect except with respect to the accuracy-related penalty….

  • Black Lung Benefit Trust

    Black Lung Benefit Trust means:a trust set up to satisfy compensation claims in accordance with Black Lung Acts. Contributions by a coal mine operator to a qualified trust are deductible on Schedule A of Former Federal Tax Form (check here if the …

  • Blocked Income

    Blocked Income means:foreign income that is not available to the earner or owner because of monetary, exchange, or other restrictions imposed by a foreign country. Blocked income is not included in income until it is free of such restrictions. Former IRC (check <a href="http://lawi.us/internal-r…

  • Blindness

    Blindness means:to qualify for the blindness standard deduction (or to receive benefits under the Social Security disability program), vision that cannot be corrected to better than 20/200 in the better eye, or a visual field of 20 degrees or less, even with corrective lenses. Vision is determin…

  • Blended Rate

    Blended Rate means:the time- and rate-weighted effective tax rate applied to a taxpayer who uses a fiscal tax year when the rate of tax changes. For example, the top corporate rate became 35% on January 1, 1993- A corporation with a fiscal tax year that straddles January 1, 1993, would compute i…