Glossary

Tax Court

What is Tax Court and When Would You Use It?

The Tax Court is a federal court where taxpayers can challenge the IRS’s determination of their tax deficiency without first paying the disputed amount. It provides an independent venue for resolving tax disputes.

Glossary Article

Recommended for You

Renewable Job Accessibility Incentive Credit

The Renewable Job Accessibility Incentive Credit is a tax credit aimed at encouraging the development and accessibility of renewable energy jobs, promoting environmental sustainability and economic growth.

Relief for Misinterpreted IRS Rules

Learn about relief options available for taxpayers affected by misinterpretations of IRS rules, and understand the process to address potential discrepancies effectively.

Workforce Electrification Resilience Credit

The Workforce Electrification Resilience Credit incentivizes investments in electric workforce resilience. Understanding its features and compliance is essential.

Green Agriculture Workforce Incentive Credit

The Green Agriculture Workforce Incentive Credit encourages the employment of sustainable agricultural practices by providing tax benefits to businesses employing workers in green agriculture.

Renewable Energy Job Creation Tax Credit

The Renewable Energy Job Creation Tax Credit incentivizes businesses to create jobs in the renewable energy sector through tax reductions, promoting sustainable growth.

Enhanced Customer Data Storage Tools Deduction

The Enhanced Customer Data Storage Tools Deduction allows businesses to deduct costs related to the secure storage and management of customer data from their taxable income. Ensuring compliance with this deduction is important for maintaining fiscal responsibility and taking advantage of potential tax savings.

Business Cloud Storage Subscriptions Deduction

Business cloud storage subscriptions can be deducted to reduce taxable income. Learn how these deductions work, compliance needs, and potential penalties for non-compliance.

Virtual Assistant Services for Administrative Tasks Deduction

Explore how using virtual assistant services for administrative tasks can be deductible in tax filings, ensuring compliance and optimal financial management.

Inventory Audit Services Deduction

The Inventory Audit Services Deduction allows businesses to deduct expenses related to inventory audits, optimizing tax liability, and ensuring compliance.

Rural Broadband Credit

The Rural Broadband Credit incentivizes broadband deployment to underserved rural areas, offering tax credits to providers meeting eligibility conditions.

Abatement for Overstated Passive Income Deductions

Learn about 'Abatement for Overstated Passive Income Deductions' and how it helps in correcting passive income deduction errors to avoid penalties and ensure tax compliance.

Abatement for Natural Disaster Relief

Natural disaster relief abatement provides tax reduction for entities impacted by natural calamities, ensuring financial stability post-disaster.

Employee Recruitment Ads Deduction

The Employee Recruitment Ads Deduction allows businesses to reduce taxable income by deducting expenses incurred for job advertising. This deduction encourages proactive recruitment planning.

Employee Recruitment Costs Deduction

Employee Recruitment Costs Deduction allows businesses to deduct expenses related to hiring new employees, including advertising, agency fees, and interview costs.

Barred Refund Claim

A barred refund claim means the IRS will no longer honor your request for a tax refund because it was filed too late. Understanding time limits is crucial for getting your money back.

IRS Form 843 Supporting Documents

IRS Form 843 allows taxpayers to request abatement or refund of certain taxes and penalties. Supporting documents are vital in substantiating your claim.

Perishable Inventory Loss Deduction

The Perishable Inventory Loss Deduction allows businesses to claim a deduction for inventory items that spoil or perish before they can be sold, optimizing tax savings.

Expenses for Cross-Border Compliance Deduction

Expenses for Cross-Border Compliance Deduction covers the costs incurred by businesses in meeting international regulatory standards, vital for seamless operations.

Remote Working Setup for Employees Deduction

The Remote Working Setup for Employees Deduction allows employees to claim tax relief on expenses incurred from setting up a home office.

Mobile Hotspot Devices for Employees Deduction

Learn about tax deductions available for mobile hotspot devices provided to employees. Understand filing requirements and compliance to maximize potential tax savings.