What INSOLVENCY means: A financial condition in which a taxpayer's total liabilities (debts owed) exceed the total fair market value of all his or her assets (cash and other property). A taxpayer is insolvent to the extent his or her liabilities exceed his or her assets.
- Definition Interlocutory Decree:
- Dictionary See Divorce Decree (Interlocutory insolvency definition.
- Definition Identifying Numbers:
- Dictionary dependents must have identifying numbers. Individuals, with rare exceptions, use their social security numbers. Businesses, estates, trusts, partnerships, and payers of dividends and interest, use insolvency explain.
- Definition Installment Method:
- Dictionary accounting enabling a taxpayer to spread the recognition of gain on the sale of property over the payment period. Under this procedure, the seller computes the gross profit percent from the sale insolvency what is.
- Definition Intangible Personal Property:
- Dictionary Property, other than real property, with no intrinsic value; its value lies in the rights conveyed. Examples include cash, insurance, stock, goodwill, and patents insolvency meaning.
How works Insolvency meaning in Tax definitions I .
