Tag: DE
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Delayed Exchange
About Delayed Exchange: Delayed (tax-free) Exchange is a transaction in which a property is traded for the promise to provide a replacement like-kind property in the near future. The Tax Reform Act of 1984 allows investment property or productive property used in a trade or business to be sold with …
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Defendant
About Defendant: Defendant (respondent) is the party being sued in an action at law. In many tax disputes, the U.S. Internal Revenue Service is the defendant and the taxpayer is the plaintiff or petitioner. If the government petitions a higher court, however, the <a href="http://lawi.us/internal-rev…
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De Novo
About De Novo: afresh; anew; denoting a second look at the facts by a trial court….
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Deferred Income
About Deferred Income: Term used to describe income which will be realized at a future date, thus delaying any tax liability. See unearned income….
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Determination Date
About Determination Date: for purposes of a top-heavy qualified plan, the last day of the preceding plan year or, in the case of the first plan year, the last day of that plan year. Former IRC (check if this IRC provision is current here…
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Destination State
About Destination State: for multistate corporations, the state where a product is sold. See throwback rule….
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Deferred Contribution Plan
About Deferred Contribution Plan: arrangement whereby an unused deduction (credit carryover) to a profit-sharing plan can be added to an employer's future contribution on a tax-deductible basis. It occurs when the employer's contribution to a profit-sharing plan is less than the annual 15% of employ…
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Departure Permit
Departure Permit means:a certificate of compliance from the U.S. Internal Revenue Service certifying that a departing alien has satisfied U.S. income tax laws; also called a sailing permit. To obtain a departure permit, the departing alien must file Former Federal Tax Form (check <a href="http:/…
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Deep-discount Bond
Deep-discount Bond means:a bond selling for a discount of more than about 25% from its face value. Unlike original issue discount bonds, deep-discount bonds were issued at a par value of $1,000, but market forces caused a decline. Gain on the sale of a bond purchased at a deep discount is genera…
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Deficit Reduction Rate
Deficit Reduction Rate means:a 4.3 cent per gallon additional federal motor fuels excise tax to be applied to reduce the federal budget deficit; imposed beginning October 1, 1993-. See Excise and Excise….