tax-credit
81Tax Attribute — A type of loss or tax credit that must be reduced as a result of the exclusion of debt cancellation from a taxpayer s gross income. Tax attributes are adjusted when a taxpayer declares bankruptcy. Tax attributes include net operating losses and… …
82credit — I n. time given for payment 1) to allow, give, extend, offer credit (this store does not give credit) 2) to deny, refuse smb. credit 3) consumer credit 4) on credit (to buy smt. on credit) recognition honor 5) to do credit to; to reflect credit… …
83tax — A charge by the government on the income of an individual, corporation, or trust, as well as the value of an estate or gift. The objective in assessing the tax is to generate revenue to be used for the needs of the public. A pecuniary burden laid …
84Tax Reform Act of 1986 — The U.S. Congress passed the Tax Reform Act (TRA) of 1986, (USStatute|99|514|100|2085|1986|10|22) to simplify the income tax code, broaden the tax base and eliminate many tax shelters and other preferences. Although often referred to as the… …
85Tax refund — A tax refund or tax rebate is a refund on taxes when the tax liability is less than the taxes paid. Taxpayers can often get a tax refund on their income tax if the tax they owe is less than the sum of the total amount of refundable tax credits… …
86Tax Break — A tax break is a savings on a taxpayer s liability. A tax break provides a savings through tax deductions, tax credits, tax exemptions and other incentives. An example of a tax break is the First Time Homebuyer Tax Credit which provided a tax… …
87Tax break — A tax break is a tax saving. This includes:* Tax exemption, an exemption from all or certain taxes of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. * Tax… …
88Tax attribute — The Internal Revenue Code contains a limited number of specific statutory provisions excluding from income economic benefits that would otherwise constitute gross income under the Code. IRC § 108 constitutes one such exclusion. Section 108… …
89Tax Reform Act of 1976 — The Tax Reform Act of 1976 was passed by the United States Congress in September of 1976, and signed into law by President Gerald Ford on October 4, 1976, becoming USPL|94|455.The act increased the percentage standard deduction to 16% ($2,800… …
90Tax Reduction Act of 1975 — The United States Tax Reduction Act of 1975 provided a 10 percent rebate on 1974 tax liability ($200 cap) and created a temporary $30 general tax credit for each taxpayer and dependent.The investment tax credit was temporarily increased to 10… …
