Tag: code

DefinitionA cafeteria plan is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code....

Did you know that you could receive a parsonage allowance? A parsonage allowance is a tax-free housing allowance given to ministers, priests, and rabbis....

What is a qualified retirement plan A qualified retirement plan is a type of retirement savings plan that offers certain tax advantages to encourage employees...

What is 'Qualified Electric Vehicle' An electric vehicle that qualifies the owner to claim a nonrefundable tax credit. A qualified electric vehicle...

What is a Qualified Charitable Organization (QCO)? A Qualified Charitable Organization (QCO) is a type of nonprofit organization that is exempt from paying federal income...

What is a Qualified Terminable Interest Property (QTIP)? A Qualified Terminable Interest Property, or QTIP, is a type of trust that provides income to a...

Valued Policy Law (VPL) What is 'Valued Policy Law - VPL' A statute that requires insurance companies to pay the full value...

What is the Wage Earner Plan (Chapter 13 Bankruptcy)? The Wage Earner Plan, also known as Chapter 13 bankruptcy, is a repayment plan for individuals...

What is 'Tax Equity And Fiscal Responsibility Act Of 1982 - TEFRA' Federal tax legislation passed in 1982 that modified some aspects...

DefinitionTax law is an area of legal study dealing with the constitutional, common-law, statutory, tax treaty, and regulatory rules that constitute the law applicable...