Tag: taxes
Tax Code
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...
Tax Base
What is a tax base and why is it important
A tax base is the total value of all taxable property in a jurisdiction. This...
Tax Clawback Agreement
What is a Tax Clawback Agreement
A Tax Clawback Agreement is an agreement between a taxpayer and the IRS in which the taxpayer agrees to...
Tax Accounting
DefinitionU.S. tax accounting refers to accounting for tax purposes in the United States. Unlike most countries, the United States has a comprehensive set of...
Tax Cheat
What is a tax cheat and why do they do it
A tax cheat is someone who doesn't pay their taxes, or who pays less...
Tax Anticipation Note (TAN)
What is 'Tax Anticipation Note - TAN' A short-term debt security issued by a state or local government to finance an immediate...
Tax Credit
DefinitionA tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total...
Tax Attribute
What is 'Tax Attribute' A type of loss or tax credit that must be reduced as a result of the exclusion of...
Deadweight Loss Of Taxation
DefinitionIn economics, the excess burden of taxation, also known as the deadweight cost or deadweight loss of taxation, is one of the economic losses...
Deadweight Loss
DefinitionA deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a...