Tag: government

DefinitionTax evasion is the illegal evasion of taxes by individuals, corporations, and trusts. Tax evasion often entails taxpayers deliberately misrepresenting the true state of...

What is 'Tax Court' A specialized court of law that hears and adjudicates tax-related disputes and issues. The tax court in the...

DefinitionPar value, in finance and accounting, means stated value or face value. From this come the expressions at par, over par and under par....

What is a TAB and what are its benefits A Tax Anticipation Bill, or TAB, is a type of loan that allows taxpayers to borrow...

What is a 'Tax Benefit' A tax benefit is an allowable deduction on a tax return intended to reduce a taxpayer's burden...

Definition A financial process is said to be tax efficient if it is taxed at a lower rate than an alternative financial process that achieves...

What is a 'Take-Home Pay' Take-home pay is the money that an employee actually receives from working after employment taxes and the...

DefinitionTax deferral refers to instances where a taxpayer can delay paying taxes to some future period. In theory, the net taxes paid should be...

What is 'Takeover Artist' An investor or company whose primary goal is to identify companies that are attractive to buy and that...

What is tax exempt status Tax-exempt status is a designation given by the Internal Revenue Service (IRS) to organizations that meet certain criteria. To be...