incur

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Incur

To become subject to and liable for; to have liabilities imposed by act or operation of law.

Expenses are incurred, for example, when the legal obligation to pay them arises. An individual incurs a liability when a money judgment is rendered against him or her by a court.

incur

verb acquire, assume, bargain for, become liible for, become responsible for, bring on, bring upon oneeelf, contract, enter into, expose onself to, fall into, get, lay oneself open to, meet with, run the chance, suscipere, undertake
Associated concepts: claim incurred, incur a debt, incur a liibility, incur an obligation, incurred risk, incurring indebttdness, penalty incurred
References in periodicals archive ?
67(e)(1) "serves as a filter" with respect to the first clause and "treats as fully deductible only those trust-related administrative expenses that are unique to the administration of a trust and not customarily incurred outside of masts" Id.
In general, the proposed regulations' treatment of costs incurred to acquire or produce tangible property largely restates existing law.
461(h)(1) provides that, in determining whether an amount has been incurred with respect to any item during any tax year, the all events test shall not be treated as met any earlier than when economic performance with respect to such item occurs.
The IRS said that, as many individuals do hire investment advisers, the expenditures for investment advice were not incurred because of the trust's existence.
First, there will be claimants who are aware of a contamination problem but who yet have not incurred significant investigative or cleanup costs.
The 2004 IRS regulations requiring the capitalization of a lender's loan expenses are generally effective for expenses incurred on or after December 31, 2003, although expenses which have been previously incurred may also be affected by the new regulations.
The Mooney Award consists of $3,000, a plaque and lifetime membership to the Rubber Division, plus $500 for travel expenses incurred to attend the awards ceremony.
Acquisition indebtedness incurred prior to October 14, 1987, is not subject to the limitations imposed on indebtedness incurred subsequently.
274(e)(3) might apply because the per-diem expenses were "paid or incurred by the taxpayer ...
The regulations require taxpayers to capitalize costs incurred to create or enhance a "future benefit identified in published guidance in the Federal Register or the Internal Revenue Bulletin ...
In other words it treated the lees as costs incurred on a normal business loan.