Tax Glossary

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Tax Glossary


	1040 1040A 1040EZ 1040PC 1099-DIV 1099-INT 401(k) Plan
A	Ability to Pay Accelerated Cost Recovery System (ACRS) Accelerated Depreciation Accountable Reimbursement Plan Accountants Equation Accounting Method Accrual Method Accrued Interest Adjustment Acquisition Debt Active Income Active Participation Adjusted Basis Adjusted Gross Income (AGI) Adjustment Adoption Credit Adoption Taxpayer Identification Number (ATIN) Adverse Living Conditions Alien Alimony Alternative Minimum Tax (AMT) Amended Return Amortizable Bond Premium Amortization Amount Realized Amount Recognized Annualized Income Installment Method Annualized Rate Annuity Applicable Federal Rate Appreciation in Value Assessment Asset Assignment At-Risk Rules Attorneys' Fee Awards Audit Audit Strategy Averaging Away from Home
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B	Backup Withholding Balance Sheet Balloon Payment Bank Reconciliation Bankruptcy Bargain Sale to Charity Basis Below Market Rate Loans Benefits Received Blind Board of Directors Bona Fide Foreign Resident Bond Bond Premium Book Value Bookkeeping Boot Breakeven Point Budget Burden of Proof Business Asset Business Interest Expense Business Taxes Buying on Margin
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C	Calendar Quarter Calendar Year Cancellation of Debt Capital Capital Asset Capital Budget Capital Expenditure Capital Gain Capital Gain Distribution Capital Loss Capital Loss Carryover Capitalize Carry Back Carry Forward Cash Flow Cash Liquidation Distribution Cash Method Cash Wages Casualty and Theft Loss CCC Certificate of Deposit (CD) Certified Public Accountant (CPA) CFR Charitable Contribution Deduction Charitable Organization Child Child and Dependent Care Credit Child Credit Child Support Citizenship Test Clifford Trust COBRA Collectible College Credits Combat Pay Combat Zone Common Stock Community Income Commuting Expense Condemnation Construction Interest Expense Constructive Receipt Consumer Interest Expense Consumer Price Index Convention Corporation Cost of Goods Sold Cost-of-Living Allowance Credit Crop Method Current Assets Current Liabilities Customs Duty
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D	Decedent Declining Balance Method Deductions Deferred Compensation Deferred Gain on Sale of Home Deficiency Defined Benefit Pension Plan Defined Contribution Pension Plan Dependency Exemption Dependent Dependent Care Credit Depletion Depreciable Property Depreciation Depreciation Recapture Direct Deposit Direct Tax Direct Transfer Disabled Disaster Loss Disposition Dividends Dual-Status Taxpayer
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E	Early Withdrawal Penalty Earned Income Earned Income Credit (EIC) Education IRA Electronic Filing Employee Stock Ownership Plan (ESOP) Employer Identification Number (EIN) Employer Parking Enrolled Agent Entrepreneur Estate Estate Tax Estimated Tax Payments Excess Accelerated Depreciation Excess Distribution Excise Tax Executor Exempt from Tax Liability Exempt from Withholding Exemption
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F	Fair Labor Standards Act Fair Market Value Farm Federal Deposit Insurance Corporation Federal Insurance Contributions Act (FICA) Federal Reserve System Federal-State Electronic Filing Federal Trade Commission Act Fiduciary File a Return Filing Extension Filing Status Final Return for Decedent First-in, First-out Inventory Valuation Method (FIFO) First-year Expensing Fiscal Year Five Year Averaging Fixed Assets Fixed Cost Fixing-up Expenses Flexible Spending Account FMS Foreign Child Foreign Earned Income Exclusion Foreign Housing Exclusion and Deduction Foreign Tax Credit Form 1040, U.S. Income Tax Return Form 1040A, U.S. Income Tax Return Form 1040EZ, U.S. Income Tax Return Form 1099-DIV Form 1099-INT Form W-2 Form W-4 Formal Tax Legislation Process Fringe Benefit
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G	Gain or Loss Gambling Income and Losses Garnishment General Agreement on Tariffs General Partner Generally Accepted Accounting Principals Gift Tax Golden Parachute Arrangement Goodwill Grantor Trust Gross Dividends Gross Income Gross Income Test Gross Profit Gross Profit Percentage Gross Receipts Group Life Insurance Guaranteed Payments to Partners
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H	Head of Household HIPAA Hobby Loss Holding Period Home Equity Debt Home Office Hope Scholarship Tax Credit Horizontal Equity Household Employee
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I	Import Duty Improvements Imputed Interest Incentive Stock Option Inclusion Amount Income in Respect of a Decedent Income Tax Independent Contractor Indexing Indirect Tax Individual Retirement Arrangement (IRA) Individual Taxpayer Identification Number (ITIN) Inflation Informal Tax Legislation Process Innocent Spouse Rule Installment Sale Intangible Asset Inter Vivos Trust Interest Interest Income Internal Revenue Service (IRS) Inventory Investment in the Contract Investment Interest Expense Involuntary Conversion Itemized Deductions
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J	Joint Return Joint Return Test Joint Tenants
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K	Keogh Plan Kiddie Tax
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L	Land Last-in, First-out Inventory Valuation Method (LIFO) Legally Separated Lifetime Learning Credit Like-Kind Exchange Limited Partner Listed Property Local Tax Long-Term Capital Gain or Loss Long Term Liabilities Lump-sum Distribution Luxury Automobile Limits
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M	Marginal Tax Rate Marital Deduction Market Discount Marketable Securities Married Filing Jointly Married Filing Separately Master Limited Partnership Material Participation Meals and Entertainment Medical Expenses Medical Savings Account (MSA) Medicare Mid-Month Convention Mid-Quarter Convention Minimum Wage Miscellaneous Itemized Deductions Modified Accelerated Cost Recovery System (MACRS) Mortgage Interest Expense Moving Expenses Multiple Support Agreement Municipal Bond Mutual Fund
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N	Net Income Net Operating Loss Net Worth Nominee Dividends Nominee Interest Non-passive Income Non-periodic Distributions Non-profit Corporations Non-recourse Financing Non-resident Alien Non-taxable Distribution
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O	Ordinary and Necessary Business Expenses Ordinary Dividends Ordinary Income Ordinary Loss Original Issue Discount (OID) Out of the Country
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P	Parsonage Allowance Partnership Passive Activity Passive Income Passive Loss Patronage Dividend Payment-in-Kind (PIK) Wages Payroll Tax Penalty Pension Percentage Depletion Personal Exemptions Personal Income Tax Personal Interest Expense Personal Property Personal Representative Personal Service Activity Personal-Use Property Physical Presence Test Placed in Service Points Portfolio Income Power of Attorney Preference Items Preferred Stock Premature Distribution Prepaid Expenses Principal Principal Place of Business Principal Residence Probate Estate Profit Profit and Loss Statement Profit-Sharing Plan Progressive Tax Proportional Tax Public Goods and Services
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Q	Qualified Charitable Organization Qualified Domestic Relations Order Qualifying Widow(er)
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R	Rabbi Trust Redevelopment or Enterprise Zone Regressive Tax Reimbursement Account Residence Interest Residential Rental Property Restricted Stock Retained Earnings Return of Capital Revocable Trust Rollover Roth IRA Royalty Income
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S	S Corporation Sales Tax Salvage Value Schedule Scholarship Section 1231 Property Section 1245 Section 1250 Section 179 Expense Deduction Section 457 Plan Securities Self-Employed Person Self-Employment Tax Separate Return Series EE Bonds Severance Pay Short Sale Short Tax Year Short-Term Capital Gain or Loss SIMPLE (Savings Incentive Match Plan for Employees) Simplified Employee Pension Plan (SEP) Single Small Business Administration Social Security Social Security Benefits Social Security Number (SSN) Sole Proprietorship Special Needs Child Specific Identification Inventory Valuation Method Specific Use Standard Deduction Standard Mileage Rate State Income Tax Statutory Employee Stepped-up Basis Stock Stock Dividend Stock Option Stock Split Straddle Straight-Line Depreciation Method Strategic Planning Student Loan Interest Support Test
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T	Tangible Personal Property Targeted Group Tariff Tax Bracket Tax Credit Tax Deduction Tax Deferral Tax Exemptions Tax Home Tax Liability Tax Preference Items Tax Preparation Software Tax Rate Schedules Tax Return Preparer Tax Shelter Tax Shift Tax Tables Tax Withholding Tax Year Tax Exempt Interest Tax Sheltered Annuity Taxable Income Taxes Taxpayer Advocate Taxpayer Identification Number TeleFile TeleTax Tenancy by the Entirety Tenants in Common Ten Year Averaging Terminally Ill Testamentary Trust Testimony Tips Total Tax Transaction Taxes Transportation and Storage Costs Travel and Lodging Expenses Trial Balance Trust
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U	U.S. Savings Bonds Adjustment Underpayment Penalty Unearned Income Unearned Revenue Uniform Commercial Code Unstated Interest Useful Life
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V	Vacation Home Value Value Added Variable Rate Loan Vertical Equity Voluntary Compliance Voluntary Withholding Volunteer Income Tax Assistance (VITA)
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W	W-2 W-4 Wage Base Wash Sale Withholding Withholding Allowance Witness
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X	No glossary terms for this letter.
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Y	No glossary terms for this letter.
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Z	Zero-Coupon Bond
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