Taxation of Wellness Program Benefits refers to the tax implications associated with employer-sponsored wellness programs provided to employees. Wellness programs often include health screenings, fitness classes, and mental health resources, which may be offered at little or no cost to employees. The Internal Revenue Service (IRS) generally considers the value of these benefits to be...

Taxation Without Representation refers to the principle that it is unjust for a government to impose taxes on individuals or groups without granting them a voice in the legislative process that determines those taxes. Historically, this term is most famously associated with the American Revolution, where colonists protested against British taxation policies imposed on them...

Taxpayer Advocate Service (TAS) The Taxpayer Advocate Service (TAS) is an independent organization within the Internal Revenue Service (IRS) that provides assistance to taxpayers facing challenges with the IRS. It aims to ensure that taxpayers are treated fairly and have their rights protected. TAS offers help with resolving tax-related issues, such as delays in processing...

Taxpayer Bill of Rights The Taxpayer Bill of Rights is a collection of provisions enacted to ensure that taxpayers are treated fairly and with respect by the tax authorities. It outlines the rights and responsibilities of taxpayers when dealing with the Internal Revenue Service (IRS) and other tax agencies. The Taxpayer Bill of Rights includes...

Taxpayer Compliance Measurement Program The Taxpayer Compliance Measurement Program (TCMP) is an initiative by the Internal Revenue Service (IRS) aimed at assessing the overall compliance of taxpayers with federal tax laws. The program involves a systematic review of tax returns to measure the accuracy of reported income, deductions, and credits. By analyzing a representative sample...

Taxpayer Delinquency Investigation refers to the process undertaken by tax authorities to identify and address instances where taxpayers have failed to fulfill their tax obligations, such as not filing required returns or not paying owed taxes. This investigation typically involves reviewing financial records, tax returns, and other relevant documentation to determine the extent of the...

Taxpayer Identification Number (TIN) A Taxpayer Identification Number (TIN) is a unique identification number assigned to individuals and businesses for the purpose of tax reporting and identification by the Internal Revenue Service (IRS). TINs are used in various tax-related documents and serve to track taxpayer obligations and payments. There are several types of TINs, including:...

Technology Company Tax Incentives refer to various tax benefits and deductions designed to encourage investment and growth within the technology sector. These incentives are typically offered by federal, state, or local governments to foster innovation, research and development (R&D), and the establishment of tech businesses. Common forms of these incentives include: R&D Tax Credits: Allow...

Technology Startups Tax Incentives refer to various tax benefits and credits designed to encourage the growth and development of new businesses in the technology sector. These incentives can include reductions in corporate income tax rates, tax credits for research and development expenditures, and exemptions from certain taxes for a specified period. These incentives aim to...

Territorial Tax System A territorial tax system is a method of taxation where a country taxes only the income earned within its borders and does not tax foreign income earned by its residents or corporations. Under this system, businesses and individuals are not subject to tax on earnings generated outside the country's jurisdiction, which can...