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Tax Glossary
What Is “ Excludable income ”?
Excludable income is money, property, or financial benefits you receive that the IRS allows you to legally leave out of...
Tax Glossary
What Is “ Excess Social Security Tax Credit ”?
What Is Excess Social Security Tax Credit? The Excess Social Security Tax Credit is a refundable tax credit that allows...
Tax Glossary
What Is “Estimated tax”?
What Is “Estimated tax”? Estimated tax is a method used to pay tax on income that isn’t subject to withholding,...
Tax Glossary
What Is “ Estimated tax payment ”?
What Is Estimated Tax Payment? An estimated tax payment is a quarterly payment made to the IRS (and often state...
Tax Glossary
What Is “ Enrolled Agent ”?
What Is an Enrolled Agent? An Enrolled Agent (EA) is a federally authorized tax practitioner who has technical expertise in...
Tax Glossary
What Is “Estate Income”?
Estate Income: A Simple Guide for Heirs and Executors Estate income is the money earned by the assets of a...
Tax Glossary
What Is “Energy Efficient Home Improvement Credit”?
What Is Energy Efficient Home Improvement Credit? The Energy Efficient Home Improvement Credit is a federal tax incentive that allows...
Tax Glossary
What Is “Employer-provided benefits exclusion”?
What Is “Employer-provided benefits exclusion”? An employer-provided benefits exclusion is a tax rule that allows certain “perks” or fringe benefits...
Tax Glossary
What Is “Electronic filing”?
What Is Electronic Filing? Electronic filing, commonly known as e-filing, is the process of submitting your tax returns to the...
Tax Glossary
What Is “EITC”?
What Is “EITC”? EITC stands for the Earned Income Tax Credit. It is a refundable federal tax credit specifically designed...