Enterprise Zone
Description and Definition of Redevelopment or Enterprise Zone
A government designated area that has decayed so badly it is in desperate need of substantial improvements.
Enterprise Zone
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Tag Archives: EN
Entrepreneur
Entrepreneur
Description and Definition of Entrepreneur
One who assumes the financial risk and other risks of the initiation, operation, and management of a given business or undertaking.
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Enrolled Agent
Enrolled Agent
Enrolled Agent means:
a person other than a certified public accountant or an attorney who is qualified to practice before the U.S. Internal Revenue Service. Enrolled agents have passed a 2-day examination or have worked in a technical area at the U.S. Internal Revenue Service for at least 5 years.
A federally-authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the IRS for audits, collections and appeals.
A tax preparer who, by virtue of passing a tough IRS test or prior IRS work experience, can represent clients at IRS audits and appeals.
See Taxation Office and Taxation Office.
Description and Definition of Enrolled Agent
A tax preparer who has passed a difficult IRS test or has IRS experience and can represent clients at IRS audits and appeals.
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Energy Tax Credit
Energy Tax Credit
About Energy Tax Credit:
Former IRC (check if this IRC provision is current here) §§46 and 48. See business energy investment credit. A tax credit, which expired in 1986, for installing insulation and other energy-saving devices.
Endowment Contract
Endowment Contract
Endowment Contract means:
a contract or agreement with an insurance company that depends in part on the life expectancy of the insured, but may be payable in full in a single payment during life. No gain or loss is recognized on the exchange of endowment contracts. Former IRC (check if this IRC provision is current here) § 1035(b)(1).
Enterprise Zone Business
Enterprise Zone Business
Enterprise Zone Business means:
a business entity (like a corporation or company), partnership, or proprietorship that:
1. conducts business solely within an empowerment zone or enterprise zone, 2. derives 80% of its income from the active conduct of a qualified business within a zone, and.
3. uses substantially all its property within a zone.
Qualifying businesses must also meet other requirements, generally pertaining to assets, earning income, and employment within the zone.
Enhanced Oil Recovery Credit
Enhanced Oil Recovery Credit
Enhanced Oil Recovery Credit means:
a general business credit equal to 15% of a taxpayer's qualified enhanced oil recovery costs for each tax year.
Enabling Clause
Enabling Clause
Enabling Clause means:
a provision in most new laws or statutes that gives appropriate officials the power to implement and enforce the law. For example, Former IRC (check if this IRC provision is current here) §385(a) states, [the] “Secretary is authorized to prescribe such regulations as may be necessary or appropriate.”.
Energy Preference Deduction
Energy Preference Deduction
Energy Preference Deduction means:
an adjustment to the corporate alternative minimum tax based on the use of certain tax preference items.
Entity
Entity
Entity means:
the legal form under which property is owned. The benefits and risks of owning a business or property may vary depending on the entity that is formed. Options include a corporation or an S corporation, individual ownership, a joint venture, a limited partnership, a partnership, and a real estate investment trust. See legal entity.
U.S. and other Developed Countries International Tax Meaning
In general for tax purposes, an Entity is an organization, person or party that possesses separate existence. Options include corporations, partnerships, estates and trusts.