What TAX LIABILITY means: The amount of total tax due the IRS after any credits and before taking into account any advance payments (withholding, estimated payments, etc.) made by the taxpayer.
- Definition Trade-In Allowance:
- Dictionary The amount by which the seller reduces the sale price of a property in return for the property of the buyer. This does not affect the buyer's basis in the property purchased tax liability.
- Definition Tax Home:
- Dictionary The business location, post, or station of the taxpayer tax liability.
- Definition Tax Court:
- Dictionary The U.S. Tax Court is one of three trial courts of original jurisdiction that decide litigation involving federal income, death, and gift taxes tax liability.
- Definition Taxable Income:
- Dictionary Taxable income is equal to adjusted gross income reduced by itemized deductions or the standard deduction, and by allowable personal and dependent exemptions tax liability.
How works Tax Liability meaning in Tah definition T .