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Tax Glossary
What Is “Annuity Income”?
Annuity Income: A Simple Tax Guide for Retirees and Investors Annuity income is a series of regular payments received from...
Tax Glossary
What Is “Annual Gift Tax Exclusion”?
What Is “Annual Gift Tax Exclusion”? The annual gift tax exclusion is a set dollar amount that you can give...
Tax Glossary
What Is “American Opportunity Tax Credit”?
What Is the American Opportunity Tax Credit (AOTC)? The American Opportunity Tax Credit (AOTC) is a federal tax benefit designed...
Tax Glossary
What Is “Amended tax return”?
What Is “Amended tax return”? An amended tax return is a form filed with the IRS to correct errors or...
Tax Glossary
What Is “Alternative Fuel Vehicle Refueling Property Credit”?
The Alternative Fuel Vehicle Refueling Property Credit is a federal tax incentive that helps individuals and businesses offset the costs...
Tax Glossary
What Is “ Alimony income ”?
Alimony income is financial support paid by one spouse to another under a legal divorce or separation agreement. How the...
Tax Glossary
What Is “Alimony deduction”?
The alimony deduction is an “above-the-line” tax write-off that allows certain divorced or separated individuals to deduct spousal support payments...
Tax Glossary
What Is “Adoption Credit”?
What Is Adoption Credit? The Adoption Credit is a federal tax benefit designed to help families offset the costs of...
Tax Glossary
What Is “Adjustment to income”?
An adjustment to income is a specific type of tax deduction that lowers your total gross income before your Adjusted...
Tax Glossary
What Is “Additional Child Tax Credit”?
What Is “Additional Child Tax Credit”? The Additional Child Tax Credit (ACTC) is the refundable portion of the standard Child...