IRS

Compulsory Payroll Tax

Compulsory Payroll Tax An automatic tax collected from employers and employees to finance specific programs.

4 years ago

Commission

Commission Compensation received by an employee for services performed. Commissions are paid based on a percentage of sales made or…

4 years ago

Citizen or Resident Test

Citizen or Resident Test Assuming all other dependency tests are met, the citizen or resident test allows taxpayers to claim…

4 years ago

Business

Business A continuous and regular activity that has income or profit as its primary purpose.

4 years ago

Bonus

Bonus Compensation received by an employee for services performed. A bonus is given in addition to an employee's usual compensation.

4 years ago

Benefits Received

Benefits Received A concept of tax fairness that states that people should pay taxes in proportion to the benefits they…

4 years ago

Authorized IRS e-file Provider

Authorized IRS e-file Provider A business authorized by the IRS to participate in the IRS e-file Program. The business may…

4 years ago

Appeal

Appeal To call for a review of an irs decision or proposed adjustment.

4 years ago

Amount due

Amount due Money that taxpayers must pay to the government when the total tax is greater than their total tax…

4 years ago

Adjusted gross income

Adjusted gross income Gross income reduced by certain amounts, such as a deductible ira contribution or student loan interest

4 years ago