taxpayer


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Related to taxpayer: Taxpayer Identification Number

taxpayer

A building, often temporary, which yields a minimal return on investment, usually little more than real estate taxes.
References in periodicals archive ?
Reasonably relied on a qualified tax professional, including one employed by the taxpayer, and the tax professional failed to make, or advise the taxpayer to make, the election.
If the taxpayer rolled over a prior home-sale gain under pre-1997 law, the taxpayer's initial cost basis must be reduced by this unrecognized gain.
c) electricity, natural gas, or potable water produced by the taxpayer in the United States;
Effective tax administration: the taxpayer agrees with the amount owed and has the resources to pay but believes it would cause economic hardship or is unfair and inequitable.
Publicizing the taxpayer advocate service, particularly among low-income groups.
Levies: The CAP can be used before or after a levy is made, before or after a seizure and, as with liens, can be used by nominees and third parties holding taxpayer property (however, for a seizure, the appeal must be made within 10 business days after the Notice of Seizure is given to the taxpayer).
9) This consistency requirement is inapplicable if the taxpayer is not subject to section 263A under the Code, regulations, or published guidance.
1031 replacement property may wish to consider a "reverse" exchange, a transaction in which the taxpayer first acquires replacement property then later sells the relinquished property.
If a taxpayer designates qualified replacement property on a return within the required period and purchases the property at the anticipated price within two years of the end of the gain year (three years--if section 1033(g) applies), a valid election is complete.
In the TAM, the IRS concluded the taxpayer's use of the IPIC pooling method did not clearly reflect income, because the taxpayer employed a non-LIFO method for items that would be included in its IPIC pools had it used the LIFO method to account for those items.
Taxpayers also must capitalize costs paid to another party to terminate (i) a lease of real or tangible personal property (under which the taxpayer is lessor); (ii) an agreement granting the party the exclusive right to acquire or use the taxpayer's property or services or to conduct the taxpayer's business; or (iii) an agreement that prohibits the taxpayer from competing with that party or from acquiring property or services from a competitor of that party.
If, within the same business, a taxpayer conducts separate activities that have different NAICS codes, it is necessary to establish which NAICS code describes the principal activity of the taxpayer; this determines whether the business is eligible to use the cash method.

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