Fbar n.— «Under the plan, according to the person briefed on the issue, the I.R.S. will cut an onerous penalty for not filing a Report of Foreign Bank and Financial Account, known as an Fbar—something offshore tax evaders have not done.» —“I.R.S...
wearaway n.— «There has been a constant battle over freezing some older workers pension benefits since IBM ran afoul of its senior workers in 1999. That fight may be over as the U.S. Treasury has now issued a ruling that determined that no foul is...
old and cold rule n.— «If you plan to use the vacation home as the relinquished property, do not use it personally for at least two years, and two tax returns. The IRS has adopted what is known as the “old and cold” rule. If you engage in a...
Tingle table n.— «Workers process the forms at something called Tingle tables, so named for Jim Tingle, an IRS employee who designed the tables back in the 1960s.» —“Due date to file U.S. taxes just around the corner” in Ogden, Utah CNN Mar. 29...
Tingle table n. a U-shaped table with 18 to 25 baskets or bins, used for sorting tax returns. Etymological Note: Supposedly named after an IRS employee named James Tingle who created the table in the 1960’s. His first name is sometimes given as...
Tingle Table n.— «When IRS management analyst James Tingle invented the “Tingle Table,” an 18 basket sorting system, it was still merely one step in the eight step process required to process a tax return.…Once the return arrives in the mail, it is...