Tag: DI

  • Disposition

    Disposition means:a transaction, such as a sale, that gives rise to a gain or loss under Former IRC (check if this IRC provision is current here) §1001. Disposable Earnings and California Tax For more information about taxes in California, click here. Description and Definition of […]

  • Direct Transfer

    Description and Definition of Direct Transfer A method of moving funds directly from one retirement plan to another. With a direct transfer, you order one sponsor to transfer the funds directly to the other sponsor – you do not take possession of the funds. There is no limit on the number of […]

  • Direct Tax

    Description and Definition of Direct Tax A tax that is paid directly. A direct tax cannot be shifted to others. Indirect taxes, such as tariffs and business taxes, can be shifted to others. A good example of a direct tax is the Federal income tax. Resources See Also Further Reading Direct Tax […]

  • Disabled

    Description and Definition of Disabled A person is permanently and totally disabled if both of the following apply: he or she cannot engage in any substantial gainful activity because of a physical or mental condition; and a physician determines that the condition has lasted or can be expected […]

  • Direct Deposit

    Direct Deposit means:an arrangement whereby a taxpayer who files electronically and meets certain eligibility requirements can elect to have his or her refund deposited directly into a savings or checking account. This allows tax refunds to be deposited directly to the taxpayer's […]

  • Disaster Loss

    Disaster Loss means:the loss from a disaster in an area declared by the President as warranting federal assistance. A taxpayer may elect to claim a casualty loss on the tax return for the previous year anytime on or before the later of (1) the due date of the tax return for the year of […]

  • 1099-DIV

    Description and Definition of 1099-DIV Form 1099-DIV is a statement from your broker, a mutual fund, or a company whose stock you own that summarizes the dividends you were paid. The purpose of Form 1099-DIV is to report the dividends you received, income tax withheld from dividends, and […]

  • Dividends

    Description and Definition of Dividends That portion of a corporation's earnings and profits which is paid to the stockholders on a per share basis. Most dividends are taxable. The distributions may be ordinary dividends, capital gain distributions, or nontaxable distributions. Companies […]

  • Disabled Credit

    About Disabled Credit: Elderly Or Disabled (Tax) Credit is a maximum allowable credit of up to $1,125 (15% of $7,500), based on the filing status of an elderly or disabled taxpayer. Social Security benefits and Adjusted Gross Income in excess of a …

  • Direct Skip

    Direct Skip is used. with respect to the generation-skipping tax (GST), a transfer that is subject to the estate or gift tax and is made to or in trust for the benefit of a skip person. For example, if a grandmother makes an outright taxable gift to a granddaughter, this transfer would be subject to…