Tag: RE

Reserve may have one of the following meanings, depending the context of the term: 1. the nondeductible segregation of retained earnings to provide for such payouts as dividends, contingencies, improvements, or retirement of preferred stock. 2. an often deductible valuation reserve, also called allo…

Reasonable Needs of Business may have one of the following meanings, depending the context of the term: 1. reasonably anticipated needs of a business. 2. certain redemption needs with respect to a deceased shareholder or a private foundation. This concept applies to determination of the accumulated …

Replacement Period may have one of the following meanings, depending the context of the term: 1. For inventory interruption. Three tax years following the liquidation year, unless a shorter period is published in the Federal Register. Former IRC (check <a href="http://lawi.us/internal-revenue-code-p…

Receiver means:a court-appointed person who takes possession of, but not title to, the assets and affairs of a business or estate that is in a form of bankruptcy called receivership. The receiver collects rents and other income and generally manages the affairs of the entity until a disposition …

Regulated Futures Contract means:a contract or agreement that (1) provides that amounts must be deposited or withdrawn from a margin account based on daily market conditions (a system of marking to market) and (2) is traded on, or subject to the rules of, a qualified board of exchange. See also …

Rebuttable Presumption means:a factual presumption that can be overturned by showing significant contradictory evidence or the happening of a certain event or certain events. If a profit is not shown in 3 out of any 5 consecutive years (2 out of 7 if horses are involved), there is a rebuttable p…

Refundable Credit means:a credit or other debt instrument that is paid to a taxpayer even if the amount of the credit exceeds the tax liability (e.g., the earned income tax credit and taxes withheld on wages). A credit that is allowed even if a taxpayer does not owe any taxes nor has any income …

Reverse Starker Transaction means:a like-kind exchange transaction whereby a taxpayer receives the replacement property before the date on which he or she transfers the relinquished property….

Redeemable Ground Rent means:a ground rent payable under a freely assignable lease that is for a term in excess of 15 years, including renewal options. The leaseholder has the right to terminate the lease and, by virtue of state or local law, to acquire the lessor's entire interest in the land. …

Realized Gain means:a gain that has occurred financially but is not necessarily taxed. Actual gain realized from the disposal of an asset. See also other Tax Terms and Definitions in U.S.A. boot; recognized gain; Section 1031. Example of Realized Gain: <a href="http://lawi.us/tax-examples-expl…