Hello World
Tax Glossary
What Is “Partnership Income”?
Partnership Income: A Simple Tax Guide for Partners and Owners Partnership income is the share of profits (or losses) generated...
Tax Glossary
What Is “Partially refundable tax credit”?
What Is “Partially refundable tax credit”? A partially refundable tax credit is a type of tax incentive that can reduce...
Tax Glossary
What Is “Partially Refundable Credit”?
What Is “Partially Refundable Credit”? A partially refundable credit is a hybrid tax benefit that can both reduce the amount...
Tax Glossary
What Is “ Paper filing ”?
What Is Paper Filing? Paper filing is the traditional method of submitting a tax return by printing out physical forms,...
Tax Glossary
What Is “ Paid preparer ”?
What Is a Paid Preparer? A paid preparer is any person or business that is paid to prepare, assist in...
Tax Glossary
What Is “Overpayment”?
What Is “Overpayment”? In the world of U.S. taxes, an overpayment occurs when the total amount of tax you paid...
Tax Glossary
What Is “Ordinary dividends”?
What Is “Ordinary dividends”? Ordinary dividends are corporate distributions paid out of a company’s earnings and profits to its shareholders....
Tax Glossary
What Is “ Ordinary income ”?
Ordinary income is any money you earn that is taxed at the standard federal income tax rates. It is the...
Tax Glossary
What Is “ODC”?
What Is “ODC”? ODC stands for the Credit for Other Dependents. It is a non-refundable federal tax credit typically worth...
Tax Glossary
What Is “ Nontaxable income ”?
Nontaxable income is money, property, or value you receive that the IRS legally exempts from federal income tax. Unlike your...