Tag: federal

What is 'Major Fraud Act Of 1988' A piece of legislation passed during the Reagan administration that modified and strengthened previous fraud...

What is 'Absorbed Account' An account that has been combined or that has merged with another related account. Accounts are often absorbed...

DefinitionIn the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his...

What is 'Abusive Tax Shelter' An investment scheme that claims to reduce income tax without changing the value of the user's income...

DefinitionThe real bills doctrine asserts that money should be issued in exchange for short-term real bills of adequate value. The doctrine was developed by...

Home Ownership by Country Real Estate Mortgage Investment Conduit (REMIC) What is 'Real Estate Mortgage Investment Conduit - REMIC' A special purpose...

Home Ownership by Country Real Estate Mortgage Investment Conduits (REMIC) What is 'Real Estate Mortgage Investment Conduits - REMIC' A complex pool...

What is 'Real-Time Trade Reporting' A requirement imposed on market makers (and in some instances, non market makers) to report each trade...

DefinitionA reverse mortgage is a type of home loan for older homeowners that requires no monthly mortgage payments. Borrowers are still responsible for property...

What is a Rate-Improvement Mortgage A rate-improvement mortgage is a type of home loan that offers a lower interest rate than the standard fixed-rate mortgage....