What PENALTIES means: For tax purposes, amounts that the IRS may assess at a statutory rate as an addition to a tax deficiency and interest. The tax Code provides for penalties for various infractions, such as underpayment of estimated tax, late filing of a return, late payment of tax, substantial understatement of tax, negligent or intentional disregard of rules, and fraud.
- Definition Personal Property:
- Dictionary Generally, all property other than real estate penalties definition.
- Definition Proprietor:
- Dictionary The sole owner of a trade or business penalties explain.
- Definition Physical Custody:
- Dictionary The taxpayer with whom a child lives is considered to have physical custody penalties what is.
- Definition Principal Residence:
- Dictionary residence is generally the home in which a taxoayer lives most of the time. A taxpayer who sells a principal residence that he or she owned and lived in for at least two years in the five-year period penalties meaning.
How works Penalties meaning in Tax definitions P .
