Gross Income

Gross Income means:
the total of a taxpayer's income from any source, except items specifically excluded by the Internal Revenue Code and other items not subject to tax. Former IRC (check if this IRC provision is current here) §61. See Gross Income and Gross Income. Money, goods, […]

Internal Revenue Service

About Internal Revenue Service: The Internal Revenue Service (IRS) is the federal agency that collects income taxes in the U.S. The agency of the United States federal government that is responsible for the administration and collection of federal taxes. The IRS, which is part of the […]

Adjusted Gross Income

About Adjusted Gross Income: Adjusted Gross Income (AGI) is the Gross income (including all taxable sources) reduced by a percentage of income (because of certain adjustments), for example charitable contributions, deductible IRA contribution, student loan interest and miscellaneous itemized […]

Power of Attorney

About Power of Attorney: Power Of Attorney (POA) is an instrument by which one person, as principal, appoints another as his or her agent and confers upon this individual the authority to perform certain specified acts or kinds of acts on behalf of the principal. Instrument in writing by which […]

Casualty Loss

Casualty Loss means:
a loss of property, due to fire, storm, shipwreck, theft, or other casualty, that is allowable, net of insurance reimbursement, as a deduction in computing taxable income. To qualify as a casualty loss, a loss must be due to a sudden, unexpected, or unusual event. A personal …

Separate Property

Separate Property means, in community property states, property acquired by either spouse before marriage or by gift or devise after marriage, as distinct from community property. Income from separate property is taxed to its owner.

Separate Property and California Tax

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Annual Report of Earnings

Annual Report of Earnings means:
the form mailed out each January by the Social Security Administration to persons who receive Social Security benefits. Recipients must specify on the form the amount of their outside earnings and file the form by April 15.

Annual Report and California Tax


Levy may have one of the following meanings, depending the context of the term: 1. (v.) to assess, as to levy a tax. 2. (N.) the seizure, as of land or other property or rights, through lawful process or by force (e.g, by the collection division of the U.S. Internal Revenue Service). IRC (check