Worthless Securities
Definition of Worthless Securities: A loss is permitted for a security that becomes worthless during the year. The loss is considered to have occurred on the last day of the year. Special rules apply...
View ArticleWorksheet
Definition of Worksheet: Documentation of compiled information that is usually not sent to the IRS with a tax return. Additional Worksheet Information:
View ArticleWork Opportunity Credit
Definition of Work Opportunity Credit: A credit available to employers who hire employees from certain destitute groups. The credit is claimed using Form 5884. Additional Work Opportunity Credit...
View ArticleWithholding Allowances
Definition of Withholding Allowances: A credit available to employers who hire employees from certain destitute groups. The credit is claimed using Form 5884. Additional Withholding Allowances...
View ArticleWidow (Widower)
Definition of Widow (Widower): A woman (man) who hasn’t remarried subsequent to the death of her husband (his wife). Additional Widow (Widower) Information:
View ArticleWelfare to Work Credit
Definition of Welfare to Work Credit: A tax credit for employers that have hired workers from welfare rolls. The Welfare to Work Credit is claimed on Form 8861.
View ArticleWash Sale
Definition of Wash Sale: A Wash Sale is when a purchase of substantially similar stock or other form of securities within 30 days before or after the sale of the similar stock or security at a loss. A...
View ArticleVested Benefits
Definition of Vested Benefits: Pension benefits belonging to the taxpayer.
View ArticleVacation Home
Definition of Vacation Home: The Tax Code places limitations on taxpayers who rent their residences or vacation homes to others during part of the tax year. The limitations may result in scaling down...
View ArticleUnstated Interest
Definition of Unstated Interest: Interest which must be determined and the sale price lowered by this amount when interest is not stated in an installment agreement or the interest rate applied is less...
View Article
More Pages to Explore .....