Tax law

Tax Law Glossary
Trying to decipher an acronym? Attempting to understand legal jargon? The Tax Law glossary gives you access to definitions for legal terminology commonly used in tax law related documents, and court proceedings.

Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.

Tax law involves regulations that concern value added tax, corporate tax, income tax.
Banking law and financial regulation set minimum standards on the amounts of capital banks must hold, and rules about best practice for investment.

Tax Law
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In tax law, situs is a crucial element as the location (situs) of an asset (eg. shares), may determine the tax regime to which it is subjected.
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In tax law, an amount that you can subtract from the total amount of income on which you owe tax. Examples of federal income tax deductions include mortgage interest, charitable contributions, and certain state taxes.
deed ...

Deduction In tax law, an amount that an individual or business can subtract from its gross income (total income) to determine its taxable income (the total income on which it owes tax).

deduction - In tax law, an amount that can subtracted from the amount prior to the calculation of tax due.
deed - A document that transfers the legal title of real estate from one owner to another.

head of household
n. 1) in income tax law, the person filing a tax return who manages the household which has dependents such as children and/or other dependent relatives living in the home, but does not file on a joint return with a spouse.

income tax law, a person who deals in property as a business, making several purchases and sales within a year as distinguished from a few sales of assets held for investment.

: a deduction of an amount set by tax law that is allowed to be taken from adjusted gross income unless the taxpayer elects to itemize deductions ...

Corporations are required to follow appropriate corporate tax laws and create and follow Corporate Bylaws that address the appointment of directors, issuance of stock to shareholders, and required meetings and minutes.

Tax Court of the United States - A judicial body which hears cases concerning federal tax laws.
Temporary relief - Any form of action by a court granting one of the parties an order to protect its interest pending further action by the court.

A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S.
citizen.

Internal Revenue Service (IRS) - The federal agency which administers the tax laws of the United States.

Capital gains: Profits from the sale of capital assets in excess of costs and values. Such gains are subject to special taxation, as specified by tax laws.
Capital investment: Moneys spent to increase the worth of an asset.

U.S. Treasury Department agency that is responsible for tax collection as well as administering and enforcing the U.S. tax laws.
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