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Tax Glossary
What Is “Employer Educational Assistance”?
Employer educational assistance is a tax-advantaged fringe benefit that allows an organization to pay for or reimburse its employees’ academic...
Tax Glossary
What Is an “Eligible Educational Institution”?
An eligible educational institution is any college, university, vocational school, or other postsecondary learning institution that has been officially approved...
Tax Glossary
What Is Effectively Connected Income (ECI)?
Effectively Connected Income (ECI) is income earned by a nonresident alien or a foreign business entity that is directly tied...
Tax Glossary
What Is an “Education Savings Account”?
An Education Savings Account (ESA), formally known as a Coverdell ESA and formerly called an Education IRA, is a tax-advantaged...
Tax Glossary
What Is an “Education Credit”?
An education credit is a U.S. federal tax benefit designed to directly reduce your income tax liability based on money...
Tax Glossary
What Is “Donor-Advised Fund”?
A donor-advised fund (DAF) is a specialized investment account managed by a public charity that allows you to combine your...
Tax Glossary
What Is “Donor Acknowledgment”?
A donor acknowledgment is a formal written statement or letter provided by a charitable organization to an individual or business...
Tax Glossary
What Is “Distributable net income”?
Distributable net income (DNI) is a tax metric used to determine the maximum amount of income from a trust or...
Tax Glossary
What Is a “Digital Asset”?
A digital asset is any digital representation of value that is recorded on a cryptographically secured distributed ledger, such as...
Tax Glossary
What Is the “Digital Asset Question”?
The digital asset question is a mandatory compliance disclosure box located at the absolute top of page one on U.S....