A domestic corporation is a corporation that does business in the jurisdiction in which it is incorporated. This can be compared to a Foreign Corporation which conducts business in a jurisdiction other than its place of incorporation.
Donee is a person who receives a gift from another person or legal entity. Donee also refers to a person that is given the power of appointment.
Donee beneficiary is a third party beneficiary who is the beneficiary of a contract between two other parties which the donee beneficiary is not a party to.
EA is an abbreviation for Enrolled Agent. An EA is a tax professional authorized by the Department of the Treasury to represent individual taxpayers before the Internal Revenue Service.
An Employer Identification Number (EIN) is a unique nine-digit number assigned to U.S. business entities. The EIN is also known as Federal Employer Identification Number (FEIN) or Federal Tax Identification Number (FTIN). An EIN is unique to the business entity to which it was assigned, and it never expires.
Enumerated powers are the powers granted to the Federal government, and specifically Congress, which are mostly listed in Article I, Section 8 of the U.S. Constitution.
Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death.
An examination report is any explanation of factual findings that are given in the form of a report after examining something. Examination reports are often seen as the findings issued by the Internal Revenue Service (IRS) to taxpayers disclosing the results of a tax audit.
