Hello World
Tax Glossary
What Is “Qualifying child”?
What Is “Qualifying child”? A qualifying child is a specific type of tax dependent who meets IRS criteria based on...
Tax Glossary
What Is “Qualified Tuition Deduction”?
What Is “Qualified Tuition Deduction”? The qualified tuition deduction—often referred to as the “Tuition and Fees Deduction”—was a federal tax...
Tax Glossary
What Is “ Qualified business income deduction ”?
What Is “ Qualified business income deduction ”? The Qualified Business Income (QBI) deduction, often called the Section 199A deduction,...
Tax Glossary
What Is “QBI Deduction”?
What Is “QBI Deduction”? The Qualified Business Income (QBI) deduction, also known as the “Section 199A deduction,” allows eligible self-employed...
Tax Glossary
What Is “ PTIN ”?
What Is a PTIN? A PTIN, or Preparer Tax Identification Number, is a unique eight-digit ID issued by the IRS...
Tax Glossary
What Is “ PTC ”?
PTC stands for the Premium Tax Credit. It is a refundable federal tax credit designed to help eligible individuals and...
Tax Glossary
What Is “ Prize income ”?
Prize income refers to the cash or the fair market value of items you win in a sweepstakes, contest, raffle,...
Tax Glossary
What Is “ Prior-year tax safe harbor ”?
What Is Prior-Year Tax Safe Harbor? The prior-year tax safe harbor is a rule that allows taxpayers to avoid underpayment...
Tax Glossary
What Is “Principal place of abode”?
What Is “Principal place of abode”? A “principal place of abode” is the primary physical home where you, or your...
Tax Glossary
What Is “Previously Owned Clean Vehicle Credit”?
The Previously Owned Clean Vehicle Credit is a federal tax incentive for individuals who purchase a qualified used electric vehicle...