Tag: DI

Dividend means:a payment by a corporation to shareholders, taxable as ordinary income, for which most corporations receive no deduction. However, some investor-owned public utilities are entitled to a limited deduction for dividends paid on certain preferred stock. Such amount may be taxed to th…

Diesel Fuel Credit means:a one-time credit to the original purchaser of $100 for the purchase of a diesel-powered automobile, or of $198 for a van (weighing 10,000 pounds or less). Claimed on Former Federal Tax Form (check here if the Form is curr…

Discretionary Contribution Plan means:a profit-sharing plan that includes plans in which contributions can exceed profits and plans used by not-for-profit organizations. There is no requirement that a specific percentage of profits be contributed by the employer, but contributions must be recurr…

Disability means:a physical or mental impairment that keeps a person from doing any “substantial” work for at least 1 year, or a condition expected to result in the person's death. The person must qualify to receive payments under the Social Security disability program. Under this definition, So…

Disqualifying Person means:a person who is a substantial contributor to a private foundation, the foundation manager, an owner of more than 20% of a business organization that is a substantial contributor to the foundation, or other specified party. Former IRC (check <a href="http://lawi.us/inte…

Direct Seller means:a person engaged in the trade or business of selling consumer products either directly or on a buy-sell basis, a deposit-commission basis, or any other, similar basis for resale by the buyer in his or her home. A direct seller may be treated as an independent contractor for p…

Dividend Received Deduction means:a subtraction from dividends qualifying as taxable income. Domestic corporations may, with exceptions, exclude 70%, 80%, or 100% of the dividends received from an equity issue of another domestic corporation. An exclusion for individual taxpayers of $100 ($200 f…

Dif Score means:a secret score of a tax return suggesting to the U.S. Internal Revenue Service the likelihood that the return will generate more revenue if audited. See also other Tax Terms and Definitions in U.S.A. discriminant function system….

Disclaimer means:a provision that allows a person to postpone decisions based upon asset values and estate composition until such values are fixed at death. In essence, a disclaimer, or renunciation, is an unequivocal refusal to accept an interest or power in property to which a person is otherw…

Discretionary Trust means:a trust that gives the trustee discretion to pay out any trust income deemed desirable to a decedent's surviving spouse during his or her lifetime The remainder interest is still eligible for the marital deduction….