Tax Administration

Corporation Tax (CT)
Corporation Tax (CT) is a tax imposed on the profits of corporations or businesses. This tax is calculated and administered by national governments and varies widely between countries.
District Director
The District Director serves as the chief operating officer of one of the Internal Revenue Service (IRS) districts and reports to the appropriate regional commissioner.
Document Locator Number (DLN)
A unique number stamped on tax returns, checks, or other documents that enables the IRS to quickly identify and access specific documents.
Flat Tax
A flat tax is a simple proportional tax system with a single rate. It has no reliefs or exemptions apart from a standard personal allowance, thereby streamlining tax compliance and administration.
Internal Revenue Code (IRC)
A collection of tax laws that are enacted by the federal government of the United States to administer tax obligations on individuals, corporations, and other entities.
Internal Revenue Service (IRS)
The Internal Revenue Service (IRS) is an agency of the federal government responsible for the administration and collection of federal income taxes. As part of the Department of the Treasury, the IRS prints and distributes tax forms and audits tax returns.
Internal Revenue Service (IRS)
The Internal Revenue Service (IRS) is the revenue service of the United States federal government responsible for collecting taxes and the administration of the Internal Revenue Code, the main body of federal statutory tax law.
Professional Employer Organization (PEO)
A Professional Employer Organization (PEO) is a firm that provides comprehensive HR solutions for small and medium-sized businesses, including payroll processing, employee benefits, human resources, tax administration, and regulatory compliance assistance.
Taxes Management Act 1970
The UK legislation consolidating the law relating to the administration and collection of income tax, corporation tax, and capital gains tax.
Taxpayer Identification Number (TIN)
A Taxpayer Identification Number (TIN) is a unique identifier used by the Internal Revenue Service (IRS) in the United States to track and manage taxpayers' various tax-related activities.
W-9 Form
The IRS W-9 form requires taxpayers to provide their Social Security number, employer identification number, or other identification to a payer, enabling the obligation of reporting interest, dividends, royalties, or other payments made to the taxpayer to the IRS.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.