Hello World
Tax Glossary
What Is “Ministerial Income”?
Ministerial income refers to the compensation received by a duly ordained, commissioned, or licensed minister for performing religious services and...
Tax Glossary
What Is a “Military Tax Extension”?
A military tax extension is a specialized provision under U.S. tax law that postpones the deadlines for filing tax returns,...
Tax Glossary
What Is “Military Spouse Residency Relief”?
Military spouse residency relief refers to federal tax protections that allow the civilian spouses of active-duty U.S. service members to...
Tax Glossary
What Is the “Low-Income Housing Tax Credit”?
The Low-Income Housing Tax Credit, commonly abbreviated as LIHTC and governed by Section 42 of the Internal Revenue Code, is...
Tax Glossary
What Is the “Investment Credit”?
The investment credit, formally calculated under Section 46 of the Internal Revenue Code, is a federal tax incentive designed to...
Tax Glossary
What Is “Indoor Tanning Services Tax”?
The Indoor Tanning Services Tax, codified under Section 5000B of the Internal Revenue Code, is a federal excise tax levied...
Tax Glossary
What Is “Highway use tax”?
The Highway Use Tax, officially known by the IRS as the Heavy Highway Vehicle Use Tax (HVUT), is a federal...
Tax Glossary
What Is the “Heavy Highway Vehicle Use Tax”?
The Heavy Highway Vehicle Use Tax (HVUT) is a federal excise tax assessed annually on heavy commercial vehicles operating on...
Tax Glossary
What Is “Form 720”?
Form 720 is the official IRS tax document used by businesses to report and pay federal excise taxes on specific...
Tax Glossary
What Is “Form 6765”?
Form 6765 is the official IRS tax document used by businesses and self-employed individuals to calculate, document, and claim the...