Law Dictionary Definitions
TAX-DEFICIENCY NOTICE
tax-deficiency notice.See NINETY-DAY LETTER [Blacks Law 8th]
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tax deficiency.See DEFICIENCY. [Blacks Law 8th]
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tax-deferred annuity.See 403(b) plan under EMPLOYEE BENEFIT PLAN [Blacks Law 8th]
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tax-deferred account.See ACCOUNT. [Blacks Law 8th]
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tax-deferred,adj. Not taxable until a future date or event . [Cases: Internal Revenue 3575–3615. C.J.S. Internal Revenue §§ 160, 206–208, 291, 294–295, 299–327.] [Blacks Law 8th]
Read MoreTAX DEED
tax deed.See DEED. [Blacks Law 8th]
Read Moretax deduction
DEDUCTION(2). [Blacks Law 8th]
Read Moreunified credit
See unified estate-and-gift tax credit. unified estate-and-gift tax credit.A tax credit applied against the federal unified transfer tax. IRC (26 USCA) § 2001(c)(2). — Often shortened to unified credit. — Also termed applicable exclusion credit. [Cases: Internal Revenue 4182.30. C.J.S. Internal Revenue § 541.] [Blacks Law 8th]
Read MoreTAXING POWER
taxing power.See POWER(3). [Blacks Law 8th]
Read Moreinvestment tax credit
A tax credit intended to stimulate business investment in capital goods by allowing a percentage of the purchase price as a credit against the taxpayer’s income taxes.The Tax Reform Act of 1986 generally repealed this credit retroactively for most property placed in service after January 1, 1986. — Abbr. ITC. [Cases: Internal Revenue 3523; Taxation…
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