Tax

Tag: NO

  • Nonredeemable Ground Rent

    Nonredeemable Ground Rent means:a ground rent in which the leaseholder does not have the right to acquire the lessor's entire interest in the land. The lessor's interest in the land is considered to be, not a security interest, but rather an ownership interest. Payments of nonredeemable ground r…

  • Nonliquidating Distribution

    Nonliquidating Distribution means:a payment made by a partnership or corporation to a partner or shareholder when the legal existence of the business continues thereafter; also called a current distribution. No loss is recognized by a partner as a result of a nonliquidating distribution, but a g…

  • Nonresident Partnership

    Nonresident Partnership means:a partnership that is not engaged in a trade or business in the United States….

  • Notice of Levy

    Notice of Levy means:a notice that transfers constructive possession of a taxpayer's property to the U.S. Internal Revenue Service even though the title is not divested until the asset is sold. Former Federal Tax Form (check here if the Form is cu…

  • Notice of Deficiency

    Notice of Deficiency means:a notice sent by the U.S. Internal Revenue Service to a taxpayer determining the tax due from the taxpayer; it includes a summary showing how the deficiency was computed. To be valid, a notice of deficiency must be sent to a taxpayer's last known address. Former IRC (c…

  • No-additional-cost Services

    No-additional-cost Services means:a nontaxable service for which the employer does not incur substantial additional cost and that is offered to customers in the ordinary course of the business for which the employee works. An example would be a free airline ticket received by an airline employee…

  • No-change Report

    No-change Report means:a postaudit U.S. Internal Revenue Service (IRS) statement declaring that no deficiency is proposed or no refund is allowed….

  • Noncontributory Qualified Pension Or Profit-sharing Plan

    Noncontributory Qualified Pension Or Profit-sharing Plan means:a plan funded entirely by the employer, with no employee contributions….

  • Nonqualified Stock Option

    Nonqualified Stock Option means:a stock option that does not meet the incentive stock option requirements. Options to purchase company stock that are granted to employees as compensation but do not meet restrictions necessary to qualify as incentive stock options. An employee must report ordinar…

  • No-show Report

    No-show Report means:a report written by an U.S. Internal Revenue Service (IRS) auditor any time a taxpayer fails to provide the information or documentation requested by an U.S….