Income Tax Preparation - T

Transaction taxes

admin — Tue, 12 Oct 2010 03:47:41 +0000

Taxes on economic transactions, such as the sale of goods and services.

Transmit

admin — Tue, 12 Oct 2010 03:47:41 +0000

To send a tax return to the IRS electronically. Tax returns prepared on paper can be sent through the mail.

Transmitter

admin — Tue, 12 Oct 2010 03:47:41 +0000

Sends the electronic return data directly to the IRS.

Tax preparation software

admin — Tue, 12 Oct 2010 03:47:41 +0000

Computer software designed to complete tax returns. The tax preparation software works with the IRS electronic filing system.

Tax shift

admin — Tue, 12 Oct 2010 03:47:41 +0000

The process that occurs when a tax that has been levied on one person or group is in fact paid by others.

Telephone tax refund

admin — Tue, 12 Oct 2010 03:47:41 +0000

Taxpayers are eligible to file for refunds of all excise tax they have paid on long-distance service billed to them after Feb. 28, 2003.

Tip income

admin — Tue, 12 Oct 2010 03:47:41 +0000

Money and goods received for services performed by food servers, baggage handlers, hairdressers, and others. Tips go beyond the stated amount of the bill and are given voluntarily.

Tariff

admin — Tue, 12 Oct 2010 03:47:40 +0000

A tax on products imported from foreign countries.

Taxable interest income

admin — Tue, 12 Oct 2010 03:47:40 +0000

Interest income that is subject to income tax. All interest income is taxable unless specifically excluded.

Tax avoidance

admin — Tue, 12 Oct 2010 03:47:40 +0000

An action taken to lessen tax liability and maximize after-tax income.