tax benefit rule — A rule which limits the recognition of income from the recovery of an expense or loss properly deducted in a prior tax year to the amount of the deduction that generated a tax savings. Under the tax benefit rule if an amount deducted from gross… … Black's law dictionary
tax benefit rule — The rule that the recovery by a taxpayer of any item previously deducted on his income tax return is taxable in the year of recovery to the extent that the original deduction or credit reduced his income tax liability in a prior year or years.… … Ballentine's law dictionary
Tax avoidance and tax evasion — Tax avoidance is the legal utilization of the tax regime to one s own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by… … Wikipedia
Tax File Number — (TFN) is an 8 or 9 digit number issued by the Australian Taxation Office (ATO) to each taxpayer (individual, company, superannuation fund, partnership or trust) to identify their Australian tax dealings. In the past, individuals received a 9… … Wikipedia
Tax protester constitutional arguments — UStaxationTax protester constitutional arguments are assertions that the imposition of the federal income tax violates the United States Constitution. These kinds of tax protester arguments are distinguished from related statutory arguments and… … Wikipedia
Tax — Taxation An aspect of fiscal policy … Wikipedia
Tax Increase Prevention and Reconciliation Act of 2005 — The Tax Increase Prevention and Reconciliation Act of 2005 (or TIPRA, USPL|109|222, USStat|120|345) was enacted on May 17, 2006. This bill prevents several tax provisions from sunseting in the near future. The two most notable pieces of the bill… … Wikipedia
Rule in Howe v Earl of Dartmouth — The rule in Howe v Earl of Dartmouth (1802) 7 Ves 137 is a rule of equity in relation to the duties of a trustee in relation to a trust fund where there are successive interests in relation to the trust fund, and seeks to strike a fair balance… … Wikipedia
tax — A charge by the government on the income of an individual, corporation, or trust, as well as the value of an estate or gift. The objective in assessing the tax is to generate revenue to be used for the needs of the public. A pecuniary burden laid … Black's law dictionary
Rule in Saunders v Vautier — The rule in Saunders v Vautier (1841) 4 Beav 115 is a rule of equity which provides that, if all of the beneficiaries a trust are of adult age and under no disability, the beneficiaries may require the trustee to transfer the legal estate to them … Wikipedia
