Tag: OF
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Office of Management and Budget
About Office of Management and Budget: at the federal level, an agency within the Office of the President responsible for (1) preparing and presenting to Congress the president's budget, (2) working with the Council of Economic Advisers and the Treasury. Department in developing a fiscal program, (3…
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Off the Books
Off the Books is a legal term that is. referring to payments or barter of which no formal record is kept in an attempt by both parties to hide the transaction from taxation or other government regulation….
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Offshore
Offshore is a legal term that is. referring to any financial organization with headquarters outside the United States. Many banks have offshore subsidiaries that engage in activities that under U.S. law either are heavily regulated or taxed or are not allowed. See <a href="http://lawi.us/offshore-ba…
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Office Audit
Office Audit means:an examination at an U.S. Internal Revenue Service (IRS) office, generally of an uncomplicated tax matter….
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Offshore Company
About Offshore Company: Term usually applied to a company or corporation registered in a country or jurisdiction (often a tax haven) other than the country, countries, jurisdiction or jurisdictions in which it carries on its business activities. An offshore (or non-resident owned) company is commonl…
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Offer In Compromise
About Offer In Compromise: An Offer In Compromise (OIC) is a settlement offer made by a taxpayer (on Former Federal Tax Form (check here if the Form is current) 656) to the U.S. Internal Revenue Service regarding a tax dispute when it is unlikely …