tax
Individual Taxpayer Identification Number (ITIN)
An Individual Taxpayer Identification Number (ITIN) is a unique nine-digit number (beginning with the number nine, 9XX-XX-XXXX) assigned to persons who are foreign nationals or who are not eligible to obtain a Social Security number (SSN) (for example, undocumented immigr
inheritance tax
innocent spouse rule
The innocent spouse rule is an exception to the general requirement that when married couples file a joint tax return, they are joi
installment agreement
Installment agreement allows a taxpayer to pay the unpaid federal taxes to the Internal Revenue Service (IRS) on a monthly basis. The authority to enter into an installment agreement is statutorily defined in the Internal Revenue Code Section 6159.
installment sale
An installment sale, according to Publication 537 from the Internal Revenue Service (IRS), is a property sale where the seller receives “at least one payment after the tax year of the sale.” Installment sales are governed by section 453 of the
intent to levy
Intent to levy is a notice sent by the Internal Revenue Service (IRS) to a person who is greatly behind in tax payments and warns that the IRS plans to seize assets of that person to cover the taxes. A person has 30 days to either pay the taxes, appeal the levy, or reach an agreement with the IRS.
Internal Revenue Code
Internal Revenue Code (IRC)
The Internal Revenue Code (IRC) is the domestic portion of federal statutory tax law in the United States, and is under Title 26 of the United States Code (USC).