What ANTI-CHURNING RULES means: Laws designed to prevent taxpayers from taking advantage of new laws by acquiring property eligible for benefits available under the new law from a related party that was used by the related property before the effective date of the new law. The term was first used when ACRS (Accelerated Cost Recovery System) was enacted in 1981. The term also applies to property eligible for MACRS depreciation (defined elsewhere) and to section 197 intangibles (defined elsewhere).
- Definition Active Participant:
- Dictionary 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 anti-churning rules definition.
- Definition Away From Home Overnight:
- Dictionary For purposes of deducting travel expenses, a trip away from one's tax home for a period longer than an ordinary work day, during which time one is released from duty to obtain rest anti-churning rules explain.
- Definition Asset:
- Dictionary An item of useful or valuable property anti-churning rules what is.
- 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 anti-churning rules meaning.
How works Anti-Churning Rules meaning in Tax definitions A .
