income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… … Universalium
All-events test — The all events test, under U.S. federal income tax law, is the requirement that all the events fixing an accrual method taxpayer s right to receive income or incur expense must occur before the taxpayer can report an item of income or expense. [… … Wikipedia
all events test — For accrual method taxpayers, income is earned when: (1) all the events have occurred which fix the right to receive the income and (2) the amount can be determined with reasonable accuracy. Accrual of income cannot be postponed simply because a… … Black's law dictionary
all events test — For accrual method taxpayers, income is earned when: (1) all the events have occurred which fix the right to receive the income and (2) the amount can be determined with reasonable accuracy. Accrual of income cannot be postponed simply because a… … Black's law dictionary
short-short test — A repealed IRS restriction, that used to limit profits from short term trading, which three months, to 30% of gross income. The penalty for exceeding this limit would be the loss of certain tax free benefits. Bloomberg Financial Dictionary … Financial and business terms
Negative income tax — Part of a series on Government Public finance … Wikipedia
foreign personal holding company — Abbr. FPHC A foreign corporation in which (1) 60 percent or more of the gross income for the taxable year is FPHC income and (2) more than 50 percent of the total combined voting power or the total value of the stock is owned, directly or… … Black's law dictionary
foreign personal holding company — Abbr. FPHC A foreign corporation in which (1) 60 percent or more of the gross income for the taxable year is FPHC income and (2) more than 50 percent of the total combined voting power or the total value of the stock is owned, directly or… … Black's law dictionary
Adams v. United States — [585 F.2d 1060] was a case in which the United States Court of Claims held that the fair rental value of the residence furnished to the taxpayer by his employer was excludable from taxpayer s gross income. The three statutory requisites for excl … Wikipedia
Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… … Wikipedia
