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prepay
(redirected from prepayment)

   Also found in: Dictionary/thesaurus, Medical, Financial, Wikipedia 0.02 sec.


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? Mentioned in ? References in periodicals archive
 
In Letter Ruling 200602002, the IRS ruled that a donor's prepayment of tuition for each of six grandchildren for multiple years through grade 12, made directly to a school, will be deemed qualified transfers excluded from the girl tax under Sec.
But a prepayment option, bolstered by a recent IRS Private Letter Ruling, may be an attractive alternative to such plans--and avoid gift taxes altogether.
Prepayment penalties are fees that a borrower must pay the lender if the borrower decides to pay down or pay off the loan principal ahead of schedule.
 
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