Tax Regulation

  • 3 Posts
  • 1 Sections
  • 1 Types
August 31, 2024 3 min read Definitions
7-Pay Test: A Critical IRS Criterion for Life Insurance
Finance Insurance Life Insurance IRS MEC Tax Regulation Policy-Test
In-depth exploration of the 7-Pay Test, an IRS mechanism to determine if a life insurance policy qualifies as a Modified Endowment Contract (MEC).
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August 31, 2024 4 min read Definitions
Wash-Sale Rule: IRS Tax Regulation
Finance Taxes IRS Rule Tax Regulation Securities Investments Stock Market
The Wash-Sale Rule is an IRS regulation that prevents taxpayers from claiming a tax loss on the sale of a security if the same or a substantially identical security is purchased within 30 days before or after the sale.
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August 24, 2024 4 min read Definitions
Backup Withholding: Definition, Mechanisms, and Eligible Parties
Finance Taxes Backup Withholding Tax Regulation Investment Income IRS Tax Compliance
An in-depth explanation of backup withholding, its operational process, and the individuals and entities subject to this tax regulation.
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