What ACTIVE PARTICIPANT means: A taxpayer who is covered by an employer-maintained qualified retirement plan, or a qualified self-employed retirement plan, if even for only one day during the year.
- Definition Audit:
- Dictionary and verification of a taxpayer's return or other transactions with tax consequences. An office audit is an audit by the IRS that is conducted in the agent's office. A field audit is active participant definition.
- Definition Additional Child Tax Credit:
- Dictionary available to taxpayers with three or more children qualifying for the child tax credit or whose earned income exceeds a specified amount and whose regular child tax credit exceeds tax liability active participant explain.
- Definition Adjusted Basis:
- Dictionary original basis of property reduced by adjustments such as depreciation allowed or allowable and casualty losses, and increased by the cost of capital improvements, expenses of purchase, and other active participant what is.
- Definition Accounting Period:
- Dictionary The period (normally 12 months) that a taxpayer uses to determine federal income tax liability. Unless a taxpayer makes a specific choice to the contrary, his accounting period is the calendar year active participant meaning.
How works Active Participant meaning in Tax definitions A .
