Dictionary of Accounting Terms: internal revenue code
internal revenue code
federal tax law of the United States that comprises the rules and regulations to be followed by taxpayers. The Internal Revenue Code of 1954 is being followed, including subsequent amendments and revisions.
Dictionary of Finance and Investment Terms: internal revenue code
internal revenue code
blanket term for complexity of statutes comprising the federal tax law.
Dictionary of Insurance Terms: internal revenue code
internal revenue code
federal statute defining the federal tax code, covering such topics as credits against tax; business-related credits; computing credit for investment in certain depreciable property; computation of taxable income; definition of gross income, adjusted gross income, and taxable income; itemized deductions; pensions, profit-sharing, and stock bonus plans; taxation of estates and trusts; taxation of life insurance companies, capital gains and losses; and other areas.
