Separate Tax Returns: Tax returns of married persons who choose to file their returns individually, usually because this approach produces lower overall tax payments.

 

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Separate Tax Returns: Tax returns of married persons who choose to file their returns individually, usually because this approach produces lower overall tax payments.

Tax Deferred: A tax-deferred account allows you to postpone income tax that would otherwise be due on employment or investment earnings you hold in the account until some point the future, often when you . . . View Full Definition

Tax Deferred Exchange (1031 Exchange): Under Section 1031 of the Internal Revenue Code, some or all of the realized gain from the exchange of property may not need to be immediately recognized for tax purposes. Both properties in . . . View Full Definition

Tax Differential View (Of Dividend Policy): Allowing the capital gains tax on an asset to be payable only when the gain is realized by selling the asset.

Tax Evasion: Legislation to increase tax revenue by eliminating various taxation loopholes and instituting tougher enforcement procedures in collecting taxes.

Tax Equity And Fiscal Responsibility Act Of 1982 (TEFRA): The view that shareholders prefer capital gains over dividends, and hence low payout ratios, because capital gains are effectively taxed at lower rates than dividends.

Tax Deferral Option: An expense that a taxpayer is allowed to deduct from taxable income.

Tax Deed: An instrument, similar to a certificate of sale, given to a purchaser at a tax sale.

Tax Codes: Under the PAYE system of taxing income, tax codes are allocated annually to employees. These codes enable the employer to deduct tax at the correct rate from salaries or wages on a monthly ( . . . View Full Definition

Tax Clawback Agreement: The percentage of tax obligation for a particular taxable income.