Glossary - US Tax & Financial Services

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 Seven

Thanks to FATCA banks must disclose their American account holders to the IRS or local tax authority.
Fact Six

The IRS is actively looking for non compliant US persons.
Fact Five

It takes an average of 16 hours to do IRS Form 1040.
Fact Four

There are over 500 IRS tax forms.
Fact Three

Since 1916, illegal income has been taxable.
Fact Two

US persons must file tax
returns no matter where they live and work.
Text One

7 million Americans abroad
only 500,000 compliant