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Tax Glossary
What Is “Early withdrawal penalty deduction”?
The early withdrawal penalty deduction is a tax write-off you can claim if a bank charges you a fee for...
Tax Glossary
What Is “ Due date ”?
What Is a Tax Due Date? A due date is the official deadline set by the IRS or state tax...
Tax Glossary
What Is “Domicile”?
What Is “Domicile”? A domicile is your true, fixed, and permanent legal home. For tax purposes, it is the place...
Tax Glossary
What Is “Dividend income”?
What Is Dividend Income? Dividend income is money paid out to shareholders by a corporation from its profits or earnings....
Tax Glossary
What Is “ Direct Pay ”?
What Is Direct Pay? IRS Direct Pay is a secure, free online service that allows individuals to pay their federal...
Tax Glossary
What Is “ Direct deposit ”?
What Is Direct Deposit? Direct deposit is an electronic method used by the IRS and state tax authorities to send...
Tax Glossary
What Is “ Digital asset income ”?
Digital asset income refers to the value you receive from earning or being paid in digital assets, such as cryptocurrencies,...
Tax Glossary
What Is “Deduction for one-half of self-employment tax”?
The deduction for one-half of self-employment tax is an IRS rule that allows self-employed individuals to write off 50% of...
Tax Glossary
What Is “Dental Expense Deduction”?
What Is “Dental Expense Deduction”? The dental expense deduction is a federal tax benefit that allows you to subtract unreimbursed...
Tax Glossary
What Is “Dependent”?
What Is “Dependent”? A dependent is a person—usually a child or a relative—who relies on you for financial support and...