Tax

Tag: SH

  • Short Tax Year

    Short Tax Year means:a tax year of a taxpayer that is less than 12 months. Former IRC (check if this IRC provision is current here) §443. See also other Tax Terms and Definitions in U.S.A. annualizing; short period. Description and Definition of Short Tax Year A tax year of less […]

  • Short Sale

    Description and Definition of Short Sale The sale of securities, borrowed from a broker, to potentially profit from falling prices in a declining market. You do not actually own the securities yet. If the price of the securities drop you buy them and return them. Your profit is the difference […]

  • Short Form

    Short Form means:any of certain federal income tax forms, such as Former Federal Tax Form (check here if the Form is current) 1040A and Former Federal Tax Form (check here if the Form is current) 1120A, that provide less detailed reporting for taxpayers meeting the filing requirements […]

  • Short-term Capital Gain

    About Short-term Capital Gain: The Short-term Capital Gain (or loss) is the profit (or loss) realized from the sale of securities or other capital assets that were not held long enough to qualify for a long-term capital gain (loss). It is the gain or loss on the sale or exchange of a capital asset h…

  • Shifting

    About Shifting: Shifting and Incidence of Taxation are the determination of the economic or business entity that actually ends up paying a particular tax. Some taxes are added to the price(s) of the good(s) produced so that the incidence of the tax is actually upon the consumer of the good. Generall…

  • Shell Company

    Shell Company means:a business entity (like a corporation or company) or another business entity possibly set up possibly by fraudulent operators as a front to conceal tax evasion schemes. Courts may pierce the veil of a shell corporation and look to the owners for payment of taxes and penalties…

  • Shelf-lefe Fee

    Shelf-lefe Fee means:a fee paid to a retailer to gain product display space. Most companies deduct shelf-life fees when paid, but an U.S. Internal Revenue Service (IRS) audit-issue paper states that the expense should be capitalized if…

  • Sham Transaction

    Sham Transaction means:a transaction without substance, which will be ignored for tax purposes….

  • Short Period

    Short Period means:a tax period of less than 12 months. A short period can occur when a taxpayer's first or final return is prepared, and, during the transition period from one tax- year end to a different tax-year end. See also other Tax Terms and Definitions in U.S.A. annualizing….

  • Short-term Assets

    Short-term Assets means:stock, bonds, or other property held for 12 months or less, the capital gains on which are taxed as ordinary income, in contrast to long-term capital gains, which are taxed at a more favorable rate for individuals. See also Capital G…