What INTERNAL REVENUE SERVICE (IRS) means: The division of the U.S. Treasury Department responsible for collecting taxes.
- Definition Incentive Stock Option:
- Dictionary option that allows an employee to purchase stock of the employer below current market price. Although the grant or exercise of such an option results in no income for the "regular" tax, the internal revenue service (irs).
- Definition Insurance Dividends:
- Dictionary policy holders are not dividends on capital stock, but are a rebate of a portion of the premiums paid for the insurance. Such dividends reduce the cost of the insurance and are not taxable unless in internal revenue service (irs).
- Definition Information Returns:
- Dictionary such as Form W-2 and the various 1099 forms, which report to the IRS income and property transactions. The payer, broker, or other designated person is required to file these returns and is subject internal revenue service (irs).
- Definition Inventory:
- Dictionary For income tax purposes, inventory consists of items acquired for sale to customers in the regular course of a taxpayer's trade or business internal revenue service (irs).
How works Internal Revenue Service (IRS meaning in Tah definition I .