IRS e-file Refers to the preparation and transmission of tax return information to the IRS using telephone lines or a…
Investment Income Includes taxable and tax-exempt interest, dividends, capital gains net income, certain rent and royalty income, and net passive…
Internal Revenue Service (IRS) The federal agency that collects income taxes in the United States.
Intermediate Service Provider Assists in processing tax return information between the ERO (or the taxpayer, in the case of online…
Interest Income The income a person receives from certain bank accounts or from lending money to someone else.
Informal Tax Legislation Process Individuals and interest groups expressing and promoting their opinions about tax legislation.
Infant Industry A new or developing domestic industry whose costs of production are higher than those of established firms in…
Indirect Tax A tax that can be shifted to others, such as business property taxes.