net worth method — net worth meth·od n: a method used by the Internal Revenue Service to detect and calculate tax evasion in which the change in a taxpayer s net worth is compared to reported taxable income taking into account living expenses, allowable deductions… … Law dictionary
net worth method — An approach used by the Internal Revenue Service to reconstruct the income of a taxpayer ; who fails to maintain adequate records. Under this approach, the gross income for the year is the increase in net worth of the taxpayer (i.e., assets in… … Black's law dictionary
net worth method — An approach used by the Internal Revenue Service to reconstruct the income of a taxpayer ; who fails to maintain adequate records. Under this approach, the gross income for the year is the increase in net worth of the taxpayer (i.e., assets in… … Black's law dictionary
net worth — noun : net assets * * * net worth phrase the value of all your property, possessions, and money after you remove what you owe Thesaurus: relating to money and possessionssynonym types of tax and taxationhyponym Main entry … Useful english dictionary
High Net Worth Individual - HNWI — A classification used by the financial services industry to denote an individual or a family with high net worth. Although there is no precise definition of how rich somebody must be to fit into this category, high net worth is generally quoted… … Investment dictionary
List of Chinese by net worth — The following is a Forbes list of Chinese billionaires is based on an annual assessment of wealth and assets compiled and published by Forbes magazine on March 10, 2011.[1] In 2011 China has 115 billionaires which ranks second after United States … Wikipedia
Tax — Taxation An aspect of fiscal policy … Wikipedia
tax system — Spain s tax system is, from 1998, in the process of being reformed. The number of income tax brackets was reduced from eighteen in 1996 to ten in 1997, and a further reduction to six was proposed in 1998. Prior to these reforms, rates ranged… … Encyclopedia of contemporary Spanish culture
net — adj [Anglo French, clean, pure, from Latin nitidus bright, neat, from nitēre to shine]: remaining after deduction of all charges, outlay, or loss the net proceeds compare gross Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
tax — 1 vt [Medieval Latin taxare to assess for taxation, tax, from Latin, to assess, value, fix] 1: to assess or determine judicially the amount of (costs of an action in court) 2: to levy a tax on tax the corporation tax capital gains tax·er n tax 2 … Law dictionary
Tax evasion investigations — Under federal law, tax evasion, or tax fraud, is the purposeful illegal attempt of a taxpayer to evade payment of a tax imposed by the federal government. Conviction of tax evasion may result in fines and imprisonment. [26 U.S.C. § 7201.] The… … Wikipedia