Legal Terminology and Law Definition of Tax Law

bona fide residence
A residence of the US national or permanent resident in a foreign country that meets the IRS bona fide residence test. A taxpayer meets the bona fide residence test if he/she is a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year. You can use the bona fide residence test to qualify for the … Full Definition »
Law topic: International Taxation << Legal issue: Tax Law
charitable contributions
A gift made by either a person or a legal entity to benefit charity. To deduct any charitable donation of money, regardless of amount, a taxpayer must have a bank record or a written communication from the charity showing the name of the charity and the date and amount of the contribution. Donations of money include those made in cash or by check, … Full Definition »
Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law
donation
A gift made by either a person or a legal entity to benefit a third party. Usually it is for the benefit of a church, schools, educational institutions, theaters, hospitals. Donation may be given as money, or household items, or in the form of services. Donations of money include those made in cash or by check, electronic funds transfer, credit card, and … Full Definition »
Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law
donee
n. a person or entity that received an outright gift or donation. Most popular donees are hospitals, theaters, schools. … Full Definition »
Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law
donor
n. a person or entity making a gift or donation. … Full Definition »
Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law
eleemosynary
relating to, or supported by charity source: Merriam-Webster Dictionary. … Full Definition »
Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law
endowment
a transfer of money to a fund (trust) with the aim of investing the money and keeping the principal intact forever or for a definite period of time. The most famous and successful endowments are Harward Fund and Yale endowment fund. … Full Definition »
Law topic: Estate Taxes & Gift Taxes << Legal issue: Tax Law
Internal Revenue Code
“Internal Revenue Code” means the Internal Revenue Code of 1986 enacted by Congress, that regulates taxation in the USA. The Internal Revenue Service (IRS) is a Federal Agency entrusted with the power to enforce the Internal Revenue Code. The IRC can be found in Title 26 of the US Code. … Full Definition »
Law topic: Tax Law << Legal issue: Tax Law
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eleemosynary
relating to, or supported by charity source: Merriam-Webster Dictionary. … Full Definition »
Louise K IngAttorney at LawPRACTICE AREA: Real Estate Law, Labor & Employment Law, Litigation, Industrial Development Law
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Martin R UffordAttorney at LawPRACTICE AREA: Real Estate Law, Wills & Probate, Trusts & Estate Planning, Industrial Development Law
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