tax

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tax

a compulsory financial contribution imposed by a government to raise revenue, levied on the income or property of persons or organizations, on the production costs or sales prices of goods and services, etc.
References in periodicals archive ?
According to section 987's legislative history, taxpayers should adjust taxable income or loss to the extent the value of the local currency at the time of remittance differs from the value when the amount was earned or otherwise recorded in the QBU's capital.
In essence, they will be taxable to the plan participant, who must then claim an itemized income tax charitable deduction after the contribution.
The failure to properly determine and report the taxable amounts of awards or settlements can result in severe penalties to the payer.
Is this $10,000 buy down taxable in 2005 when they sold the purple duplex or in 2006 when they bought the New Property?
Computer equipment Not taxable on first pounds 2,500
If you buy just before a mutual fund's capital gains distribution, you're buying taxable income," says Eardley Willock, tax manager in the New York office of the accounting firm Grant Thornton.
Under the Statement 96 assumption of "no future events," the reversals are the first, and indeed the only, items entering into future taxable income.
The nondeductible portion must be included in taxable income for the year of receipt.
She excluded the $11,855 of workers' compensation as "not paid by SSA" because she believed the workers' compensation offset was not includable in taxable income.
In the last few years, the Internal Revenue Service (IRS) has provided specific guidelines for qualified tenant construction allowances not to be treated as taxable income.
When the taxable preferred share rules were first introduced in June 1987, shares subject to the taxable preferred share regime were excluded from the TPS rules.