Glossary of Tax Terms
Definitions of tax terms, along with the myriad of form names and numbers, can be complex, seemingly contradictory and confusing. We have compiled a database of terms that you might find useful and will continue to add to this list over time. However, if you you don’t see what you are looking for here, please email or call us.
Did you Know?
Fact SevenThanks to FATCA banks must disclose their American account holders to the IRS or local tax authority.
Fact SixThe IRS is actively looking for non compliant US persons.
Fact FiveIt takes an average of 16 hours to do IRS Form 1040.
Fact FourThere are over 500 IRS tax forms.
Fact ThreeSince 1916, illegal income has been taxable.
Fact TwoUS persons must file tax returns no matter where they live and work.
Text One7 million Americans abroad
only 500,000 compliant