tax benefit


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  • noun

Synonyms for tax benefit

a tax deduction that is granted in order to encourage a particular type of commercial activity

References in periodicals archive ?
When this happens, the company reverses the compensation expense, including any tax benefit it previously recognized.
If the actual tax benefit is higher, then the difference is ordinarily recorded as additional paid-in capital.
For example, if the standard for properly reporting an item on a tax return is "substantial authority" or "reasonable basis," the amount of tax benefit represented by the position should be recognized as long as the taxpayer can demonstrate that the minimum legal level of confidence in its position.
The 46-year-old admitted one charge of obtaining housing benefit and council tax benefit by false representation.
Although enterprises may adopt different approaches to determining the amount of loss to accrue under FAS 5, the consistent objective is to estimate the amount of tax benefit that will be confirmed on resolution of a challenged tax position.
Analysis by The Tax Institute, the independent research arm at H&R Block, shows tax benefits for individuals and small businesses that expired in 2013 could impact as many as one in six taxpayers.
It means that other council tax benefit recipients will have to bear the full impact of the cut.
Ministers plan to change the way council tax benefit is allocated across the country.
Like-wise 7,088 taxpayers in the category of association of persons (AoP) in income group between 350,000 to 400,000 will get tax benefit of Rs.
Indeed, for the nearly half of American workers who pay no taxes at all, there is no tax benefit under this system.
Ironically, two courts desperately seeking to find a rationale to deny taxpayers who unlike Beulah were actually attempting to enjoy the unwarranted tax benefit of double deductions further validated the Double Deduction Myth by declaring it to be the rationale for the Crane decision.
He was ordered to repay rent rebate of pounds 3,625 and council tax benefit of pounds 583.
Because income taxes are self-assessed in most tax jurisdictions, a company may take a position on its tax return that allows it to claim a tax benefit minimizing its tax liability.
If yes, the company must determine how much of the tax benefit is to be recognized in the financial statements, taking into account the facts and circumstances of each tax position; detection risk is not taken into account.
The GAAR permits the Minister of National Revenue (the Minister) to deny the tax benefit resulting from any transaction which is an "avoidance transaction" as defined in subsection 245(3) of the Act.