What CLOSED YEAR means: A tax year for which the statute of limitations has expired. The taxpayer can't claim a refund and the IRS can't collect additional taxes (with certain exceptions).
- Definition Condemnation:
- Dictionary property by a public authority. The property is condemned as the result of legal action and the owner is compensated by the public authority. The power to condemn property is known as the right of closed year.
- Definition Callable:
- Dictionary or part of which may be redeemed before maturity by the issuing corporation under specific conditions. The term also applies to preferred shares of stock, which may be redeemed by the issuing closed year.
- Definition Community Property:
- Dictionary to belong in equal shares to a husband and wife. This concept of ownership for property acquired after marriage is followed in Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas closed year.
- Definition Capital Gain:
- Dictionary The gain from the sale or exchange of a capital asset closed year.
How works Closed Year meaning in Tah definition C .