IRS

Electronic Return Originator (ERO)

Electronic Return Originator (ERO) The Authorized IRS e-file Provider that originates the electronic submission of an income tax return to…

4 years ago

Electronic Preparation

Electronic Preparation Electronic preparation means that tax preparation software and computers are used to complete tax returns. Electronic tax preparation…

4 years ago

Electronic Filing (e-file)

Electronic Filing (e-file) The transmission of tax information directly to the IRS using telephones or computers. Electronic filing options include…

4 years ago

Earned Income Credit

Earned Income Credit A tax credit for certain people who work, meet certain requirements, and have earned income under a…

4 years ago

Earned Income

Earned Income Includes wages, salaries, tips, includible in gross income, and net earnings from self-employment earnings.

4 years ago

Direct Tax

Direct Tax A tax that cannot be shifted to others, such as the federal income tax.

4 years ago

Direct Deposit

Direct Deposit This allows tax refunds to be deposited directly to the taxpayer's bank account. Direct Deposit is a fast,…

4 years ago

Dependent

Dependent A qualifying child or qualifying relative, other than the taxpayer or spouse, who entitles the taxpayer to claim a…

4 years ago

Dependency Exemption

Dependency Exemption Amount that taxpayers can claim for a "qualifying child" or "qualifying relative". Each exemption reduces the income subject…

4 years ago

Deficit

Deficit The result of the government taking in less money than it spends.

4 years ago