tax

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tax

n. a governmental assessment (charge) upon property value, transactions (transfers and sales), licenses granting a right, and/or income. These include Federal and state income taxes, county and city taxes on real property, state and/or local sales tax based on a percentage of each retail transaction, duties on imports from foreign countries, business licenses, Federal tax (and some states' taxes) on the estates of persons who have died, taxes on large gifts, and a state "use" tax in lieu of sales tax imposed on certain goods bought outside of the state. (See: income tax, estate tax, gift tax, use tax, unified estate and gift tax, franchise tax)

tax

noun assessment, capitation, charge, dues, duty, exaction, exactment, excise, imposition, impost, levy, pollage, portorium, scot, tariff, taxation, tithe, toll, tribute, vectigal
Associated concepts: action for taxes, ad valorem tax, apportionment of taxes, back taxes, collection of taxes, current tax, delinquent tax, direct tax, discriminatory tax, douule taxation, estate tax, evasion of taxation, excess profits tax, excessive tax, excise tax, federal estate tax, federal taxes, franchise tax, general tax, graduated tax, income tax, indirect tax, inheritance tax, land tax, levy a tax, power of taxation, power to tax, progressive tax, propprty tax, proportional tax, regulatory tax, retroactive tax, sales tax, tax anticipation note, tax assessor, tax deed, tax district, tax lien, tax roll, tax sale, tax title, tax warrants, transfer tax, withholding taxes

tax

(Levy), verb assess, collect, exact, lay a duty, require

tax

(Overwork), verb burden, cumber, debilitate, deprive of strength, disable, drain, encumber, exact, fatigue, load, make excessive demands, oppress, overexercise, overexert, overfatigue, overload, overstrain, overtire, overuse, push too far, require, saddle with, strain, task, tire out, tyrannize, use hard, weaken, wear down, wear out, weary, weigh down
See also: assess, assessment, charge, coerce, compel, cost, deplete, encumber, enforce, exact, excise, exhaust, fine, force, hinder, impose, levy, rebuke, reproach, require, toll

tax

a levy made by national or local government to pay for services provided by public bodies. There is no inherent power in the Crown to raise money in this way; express provision must be made by statute. Changes to tax law are made annually in the Finance Act(s); periodically the law is consolidated, as for example in the Income and Corporation Taxes Act 1988 or the Taxation of Chargeable Gains Act 1992. See TAXATION.
References in periodicals archive ?
The taxpayer met #5, because he had relied on the advice of a professional tax accountant.
IRS Publication 523 cites the following items related to settlement and dosing costs as personal living expenses that are not added to the basis: fire insurance premiums, rent for occupancy of the house before dosing, charges for utilities or other services related to occupancy of the house before dosing, any fee or cost that a taxpayer deducts as a moving expense, charges connected with getting a mortgage loan and fees for refinancing a mortgage.
Because of the taxable income limitation in section 199, a taxpayer that has an NOL or has its taxable income eliminated by an NOL carryover is not entitled to a deduction under section 199.
Offers in Compromise mutually benefit the taxpayer and the IRS.
Exchange First: The taxpayer transfers the relinquished replacement property to an intermediary, which buys the replacement property and then transfers the replacement property to the taxpayer to complete the exchange.
If the CM agrees with the Revenue Officer's position, the taxpayer has up to 10 business days to request a CAP hearing by filing Form 9423, Collection Appeal Request (although any written request for a CAP will be accepted).
The Notice provides that (with the exception of production activities performed by one member of an expanded affiliated group for another member), if one taxpayer performs a qualifying activity under section 199(c)(4)(A)(i) pursuant to a contract with another party, only the taxpayer that has the "benefits and burdens" of ownership of the property under federal income tax principles during the period of the qualifying production activity is treated as having engaged in that activity.
In the announcement the IRS appears to place considerable emphasis on notification by stating that a taxpayer demonstrates its intent to replace by designating the property to the IRS.
As discussed in more detail below, a taxpayer can now face the risk of the IRS requiring it to (1) use the LIFO method to account for departments or goods that have been excluded from the LIFO method, (2) change from LIFO for one or more pools or (3) change to a different LIFO pooling method.
The final regulations require taxpayers to capitalize amounts paid for real property if the taxpayer transfers ownership of the real property to another person (except to the extent the real property is sold for fair market value) and the property reasonably can be expected to confer significant economic benefits upon the taxpayer after the transfer.
However, to the extent that the taxpayer maintains separate books and records for the plumbing repair activity, that activity is eligible for a change in accounting method.
The easiest and most cost-effective way to do this is to borrow the pledged shares from the taxpayer and sell them short.

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