Glossary of Tax Terms
The Coen Law Firm located in Arlington, Texas offers legal services of individuals and businesses in the area of Federal and Texas State tax representation and tax litigation matters, and the following glossary of tax terms for its clients and web site visitors.
A
Abatement
Accelerated Cost Recovery System (ACRS)
Accelerated Depreciation
Account
Acquisition Debt
Active Income
Active Participation
Activity Code
Adjusted Basis
Adjusted Gross Estate (AGE)
Adjusted Gross Income (AGI)
Adoption Taxpayer Identification Number (ATIN)
Aider and Abettor Statute
Alimony
All-Events Test
Alter Ego Doctrine
Alternative Minimum Tax (AMT)
Amended Return
Appeals Officer
Assessment
Assessment Statute Expiration Date (ASED)
Assignment of Income
At-Risk Rules
Audit Information Management System (AIMS)
Audit Reconsideration
Automated Collection System (ACS)
Automated Substitute for Return Program (ASFR)
Automated Underreporter Program (AUR)
Avoidance of Tax
B
Backup Withholding
Badges of Fraud
Bag Deposit Method
Board of Tax Appeals (BTA)
Business Bad Debt
Business Purpose
C
C Corporation
Cancellation of Debt
Cash Expenditures Method
Certified Public Accountant
Civil Fraud Penalty
Civil Penalty
Claim-of-Right Doctrine
Closing Agreement
Collateral Agreement
Collection Statute Expiration Date (CSED)
Currently Not Collectible
Constructive Dividend
Constructive Receipt
Corporate Veil
Criminal Investigation Division (CID)
D
Debt Forgiveness Income
Deficiency
Delay Adjustment
Delinquent Return
Discriminant Function System (DIF Score)
Divorce Transfer
Document Locator Number
E
Enrolled Agent
Entry Order
Erroneous Refund
Estimated Tax Payments
Examination
F
Failure-to-File Penalty
Failure-to-Pay Penalty
Fair Market Value
Federal Tax Deposit
Federal Tax Lien
Foreclosure of Federal Tax Lien
Forms 433-A (Collection Information Statement for Wage Earners and Self-Employed Individuals) and 433-B (Collection Information Statement for Businesses
I
Illegal Income
Incentive Stock Option (ISO)
Information Data Retrieval System (IDRS)
Installment Agreement
Internal Revenue Manual (IRM)
J
Jeopardy Assessment
Joint Committee Review
L
Last Known Address
Lien
Levy
M
Master File
Material Participation
Modified Accelerated Cost Recovery System (MACRS)
N
Negligence
Negligence Penalty
Ninety-Day Letter
Non-Master File (NMF)
Nonqualified Stock Option (NSO)
Notice of Deficiency
Notice of Levy
Notice of Seizure
O
Offer in Compromise (OIC)
Office Auditor
P
Passive Activity
Passive Loss
Payroll Taxes
Penalty
Pennies on the Dollar
Personal Liability
Power of Attorney
Property Exempt from Levy
R
Reasonable Cause
Reconstruction of Income
Refund Statute Expiration Date (RSED)
Release from Levy
Responsible Person
Retention Register
Revenue Agent
Revenue Officer
S
Self-employment Tax
Sham Transaction
Special Agent
Special Estate Tax Lien
Statutory Limitation Period
Statutory Notice of Deficiency (SND)
Step Transaction Doctrine
Substitute for Return (SFR)
Suit to Reduce Tax Claim to Judgment
T
Tax Delinquency Investigation (TDI)
Tax Delinquency Account (TDA)
Tax Period
Transcript of Account
Transferee
Trust Fund Recovery Penalty
Practice Areas
- Tax Representation (tax collection defense, trust fund recovery penalty, liens, levies and seizures, offers in compromise, tax bankruptcies)
- Federal Tax Representation (examination, appeals and criminal investigation divisions)
- Tax Litigation (tax, federal district and bankruptcy courts)
- State Tax Representation (sales tax audits, hearings before Comptroller & Texas Workforce commission)
- Legal Resources & Links
- Glossary of Tax Terms
Coen Law Firm, P.C.
1615 West Abram St, Suite 110
Arlington, Texas 76013
Phone: (817) 461-4988
Fax: (817) 461-4902
Email: scoen@coenlaw.com
Map/Directions
"By Appointment Only"
© 2008 Stephen Coen. All rights reserved.
