Tax lien notice, often used in the context of federal tax, refers to a document released by Internal Revenue Service (IRS) in public records to notify a taxpayer that they risk losing their assets and alert creditors that the IRS has a claim...
tax
tax optimization
Tax optimization consists of lowering the amount of tax liability by complying with the tax obligations in force in a given state/country by using the regulations to the taxpayer’s advantage. The taxpayer will thus use and take advantage of...
tax planning
Tax planning is when a taxpayer makes use of the tax law to pay the least amount of taxes possible. Tax planning consists of the analysis of the tax payer’s financial situation in order to pay the lowest tax. Usually, tax planning consists in...
tax registration certificate
Tax registration certificate is a required document for businesses and certain entities to have in order to conduct their activities in a jurisdiction. The tax registration certificate is often a part of or issued alongside a business license...
tax return
Tax returns are mandatory yearly filings with the Internal Revenue Service (IRS) or other tax agencies for state and local entities which detail the tax obligations of the taxpayer or organization. The tax return contains calculations of a...
tax sale
Tax sale is the forced auctioning of property or liens on property owned by a taxpayer with back taxes. A tax sale generally is a last resort method for the Internal Revenue Service (IRS), state, or local tax agency to reclaim unpaid taxes,...
tax shelter
A financial method or investment scheme that is created primarily to reduce or delay one's amount of taxable income. Some tax shelters have been outlawed by statute or voided by courts, but others remain legal or even encouraged by law.
tax withholding
Tax withholding is the practice of an organization keeping part of compensation owed to an individual to cover part of the taxes on the income. Both the Federal government and states may have withholding systems in place for specific types of...
tax-deferred exchange
Tax-deferred exchange refers to the ability of investors and organizations to replace one investment for a similar one instead of keeping the proceeds. For certain transactions, the exchange allows the investor or organization to defer...
tax-exempt income
Tax-exempt income is income from any source which the Federal, state, or local government does not include when implementing its income tax. Individuals and organizations may have to report this income on a tax return, but the income will not...