Method of accounting for deferred reduction of tax credits, due to not recording a cancelled debt as taxable income. An individual filing bankruptcy is not required to declare cancelled debts as taxable income, but must reduce other tax attributes, such as future tax credits, to compensate.
Related information about tax attribute:
- Tax attribute - Wikipedia, the free encyclopedia
The United States Internal Revenue Code contains a limited number of specific statutory provisions excluding from income economic benefits that would ...
- Tax Attribute Definition | Investopedia
A type of loss or tax credit that must be reduced as a result of the exclusion of debt cancellation from a taxpayer's gross income. Tax attributes are adjusted when ...
- What Is a Tax Attribute? | Chron.com
A tax attribute is one of a range of specific measures in the federal income tax calculation process that benefits the taxpayer. It's relevant in cases when a ...
- Tax attribute: Definition from Answers.com
Tax Attribute A type of loss or tax credit that must be reduced as a result of the exclusion of debt cancellation from a taxpayer's gross income.
- Tax Attribute Survival
Tax attribute survival is often a critical consideration in assessing a proposed corporate reorganization. Beneficial tax attributes, such as net operating losses, ...
- Tax & Shipping - Google Merchant Center Help
You can also include item-level override values using the new 'tax' attribute, which replaces the attributes 'tax percent' and 'tax region'. Important: For your tax ...
- What is tax attribute? definition and meaning
Definition of tax attribute: Method of accounting for deferred reduction of tax credits, due to not recording a cancelled debt as taxable income. An individual filing ...
- Bankruptcy Tax Guide, Tax Attribute Reduction Example ...
The sample filled-in Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), is based on the following ...