FULLFORMDEFINITION
This section includes 105 fullforms, each offering curated multiple-choice questions to sharpen your Income Tax knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
APTC meaning in Income Tax ? |
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Answer» What is Advanced Premium Tax Credit mean? The premium tax credit (PTC) is a refundable tax credit in the United States. It is payable by the Internal Revenue Service (IRS) to eligible households that have obtained healthcare insurance by a healthcare exchange (marketplace) in the tax year. It can be paid in advance directly to a healthcare insurance company to offset the cost of monthly health insurance premiums. The tax credit is part of a host of Affordable Care Act tax provisions, introduced by the IRS in 2014, and is meant to extend health insurance coverage to 18 million lower and middle-income Americans. reference |
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| 52. |
APTC meaning in Income Tax ? |
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Answer» INFO: Full form for APTC is Advance Premium Tax Credits in Income Tax category |
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| 54. |
EBITDA meaning in Income Tax ? |
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Answer» INFO: Full form for EBITDA is Earnings Before Interest Tax Depreciation and Amortization in Income Tax category
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| 55. |
EBITDA meaning in Income Tax ? |
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Answer» INFO: Full form for EBITDA is Earnings Before Interest Tax Depreciation and Amortisation in Income Tax category
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| 56. |
STAR meaning in Income Tax ? |
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Answer» INFO: Full form for STAR is School Tax Assessment Relief in Income Tax category
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| 57. |
EBITDA meaning in Income Tax ? |
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Answer» INFO: Full form for EBITDA is Earnings Before Interest Tax Depreciation Amortization in Income Tax category
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| 58. |
ITO meaning in Income Tax ? |
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Answer» INFO: Full form for ITO is Intuit Tax Online in Income Tax category
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| 59. |
RCT meaning in Income Tax ? |
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Answer» INFO: Full form for RCT is Relevant Contracts Tax in Income Tax category
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| 60. |
RIT meaning in Income Tax ? |
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Answer» INFO: Full form for RIT is Refund of Income Tax in Income Tax category
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| 61. |
GET meaning in Income Tax ? |
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Answer» INFO: Full form for GET is General Excise Tax in Income Tax category
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| 62. |
BPT meaning in Income Tax ? |
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Answer» INFO: Full form for BPT is Built Property Tax in Income Tax category
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| 63. |
TIN meaning in Income Tax ? |
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Answer» INFO: Full form for TIN is Tax Identification Number in Income Tax category
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| 64. |
GCT meaning in Income Tax ? |
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Answer» INFO: Full form for GCT is General Corporation Tax in Income Tax category
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| 65. |
EBIDT meaning in Income Tax ? |
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Answer» INFO: Full form for EBIDT is Earnings Before Interest Depreciation and Tax in Income Tax category |
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| 66. |
EBITA meaning in Income Tax ? |
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Answer» INFO: Full form for EBITA is Erations Before Interest Tax and Amortisation in Income Tax category
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| 67. |
PBIT meaning in Income Tax ? |
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Answer» INFO: Full form for PBIT is Profit Before Interest and Tax in Income Tax category
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| 68. |
PBIT meaning in Income Tax ? |
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Answer» INFO: Full form for PBIT is Profit Before Interest Tax in Income Tax category
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| 69. |
PBIT meaning in Income Tax ? |
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Answer» INFO: Full form for PBIT is Profits Before Interest and Tax in Income Tax category
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| 70. |
CATA meaning in Income Tax ? |
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Answer» INFO: Full form for CATA is Colorado Association of Tax Appraisers in Income Tax category
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| 71. |
JTB meaning in Income Tax ? |
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Answer» INFO: Full form for JTB is Joint Tax Board in Income Tax category
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| 72. |
PPTR meaning in Income Tax ? |
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Answer» INFO: Full form for PPTR is Progressive Property Tax Regime in Income Tax category
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| 73. |
CTY meaning in Income Tax ? |
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Answer» INFO: Full form for CTY is Current Tax Year in Income Tax category
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| 74. |
TTB meaning in Income Tax ? |
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Answer» What is Tax and Trade Bureau mean? The Alcohol and Tobacco Tax and Trade Bureau, statutorily named the Tax and Trade Bureau and frequently shortened to TTB, is a bureau of the United States Department of the Treasury, which regulates and collects taxes on trade and imports of alcohol, tobacco, and firearms within the United States. TTB was created on January 24, 2003, when the Homeland Security Act of 2002 split the Bureau of Alcohol, Tobacco and Firearms (ATF) into two new organizations with separate functions. Specifically, the Act transferred ATF and its law enforcement functions from the Department of the Treasury to the Department of Justice. ATF's other functions, dealing with tax collection and regulation of legitimate trade, remained within the Treasury Department and became part of the new TTB. TTB's Field Operations are organized into five divisions: National Revenue Center: reconciles returns, reports, and claims; screens applications and promptly issues permits; and provides expert technical assistance for industry, the public and government agencies to ensure fair and proper revenue collection and public safety.Risk Management: develops, implements, and maintains monitoring programs for collecting the revenue due the Federal Government and protecting the public, and ensures resources are effectively used.Tax Audit: verifies the proper payment of alcohol, tobacco, firearms and ammunition excise taxes and ensures compliance with laws and regulations by taxpayers in a manner that protects the revenue, protects the consumer, and promotes voluntary compliance.Trade Investigations: comprises investigators who ensure industry compliance with the laws and regulations administered by the TTB.Tobacco Enforcement Division: protects the revenue and promotes voluntary compliance by monitoring the domestic tobacco trade, ensuring only qualified applicants enter the tobacco trade, ensuring compliance with the tax laws relating to tobacco, and facilitating TTB's enforcement functions in cases of non-compliance.The Advertising, Labeling, and Formulation Division (ALFD) implements and enforces a broad range of statutory and compliance provisions of the Internal Revenue Code and the Federal Alcohol Administration Act. This act requires importers and bottlers of beverage alcohol to obtain certificates of label approval or certificates of exemption from label approval (COLAs) for most alcohol beverages prior to their introduction into interstate commerce. ALFD acts on these COLAs to ensure that products are labeled in accordance with federal laws and regulations. ALFD also examines formulas for wine and distilled spirits, statements of process, and pre-import applications filed by importers and proprietors of domestic distilleries, wineries, and breweries for proper tax classification and to ensure that the products are manufactured in accordance with federal laws and regulations. reference
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| 75. |
JTT meaning in Income Tax ? |
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Answer» INFO: Full form for JTT is Job Training Tax in Income Tax category
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| 76. |
TDT meaning in Income Tax ? |
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Answer» INFO: Full form for TDT is Transportation Development Tax in Income Tax category
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| 77. |
DTRD meaning in Income Tax ? |
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Answer» INFO: Full form for DTRD is Domestic Tax Revenue Division in Income Tax category
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| 78. |
PPTR meaning in Income Tax ? |
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Answer» INFO: Full form for PPTR is Personal Property Tax Relief in Income Tax category
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| 79. |
TRAN meaning in Income Tax ? |
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Answer» INFO: Full form for TRAN is Tax Revenue Anticipation Note in Income Tax category |
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| 80. |
TTRA meaning in Income Tax ? |
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Answer» INFO: Full form for TTRA is Taconite Tax Relief Area in Income Tax category
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| 81. |
UTA meaning in Income Tax ? |
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Answer» INFO: Full form for UTA is Unaccountable Tax Ambush in Income Tax category
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| 82. |
BTCF meaning in Income Tax ? |
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Answer» INFO: Full form for BTCF is Before Tax Cash Flow in Income Tax category
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| 83. |
EITC meaning in Income Tax ? |
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Answer» INFO: Full form for EITC is Educational Improvement Tax Credit in Income Tax category
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| 84. |
BTRC meaning in Income Tax ? |
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Answer» INFO: Full form for BTRC is Business Tax Registration Certificate in Income Tax category
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| 85. |
DTB meaning in Income Tax ? |
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Answer» INFO: Full form for DTB is Debt Tax Benefit in Income Tax category
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| 86. |
FTB meaning in Income Tax ? |
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Answer» What is Franchise Tax Board mean? The California Franchise Tax Board (FTB) collects state personal income tax and corporate income tax of California. It is part of the California Government Operations Agency. The board is composed of the California State Controller, the director of the California Department of Finance, and the chair of the California Board of Equalization. The chief administrative official is the executive officer of the Franchise Tax Board. reference
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| 87. |
FTB meaning in Income Tax ? |
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Answer» What is Family Tax Benefit mean? Social security, in Australia, refers to a system of social welfare payments provided by Australian Government to eligible Australian citizens, permanent residents, and limited international visitors. These payments are almost always administered by Centrelink, a program of Services Australia. In Australia, most payments are means tested. reference
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| 88. |
SBTC meaning in Income Tax ? |
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Answer» INFO: Full form for SBTC is Sustainable Building Tax Credit in Income Tax category
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| 89. |
ETLA meaning in Income Tax ? |
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Answer» INFO: Full form for ETLA is Electronic Tax Law Assistance in Income Tax category
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| 90. |
TFTI meaning in Income Tax ? |
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Answer» INFO: Full form for TFTI is Texas Federal Tax Institute in Income Tax category
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| 91. |
IBT meaning in Income Tax ? |
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Answer» INFO: Full form for IBT is Illinois Business Tax in Income Tax category
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| 92. |
EBIT meaning in Income Tax ? |
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Answer» INFO: Full form for EBIT is Earnings Before Interest and Tax in Income Tax category
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| 93. |
EBIT meaning in Income Tax ? |
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Answer» INFO: Full form for EBIT is Earnings Before Interest Tax in Income Tax category
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| 94. |
HIT meaning in Income Tax ? |
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Answer» INFO: Full form for HIT is Health Insurance Tax in Income Tax category
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| 95. |
EBIT meaning in Income Tax ? |
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Answer» INFO: Full form for EBIT is Earnings Before Income and Tax in Income Tax category
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| 96. |
MBT meaning in Income Tax ? |
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Answer» INFO: Full form for MBT is Michigan Business Tax in Income Tax category
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| 97. |
OTR meaning in Income Tax ? |
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Answer» INFO: Full form for OTR is Office of Tax and Revenue in Income Tax category
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| 98. |
ITR meaning in Income Tax ? |
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Answer» What is Income Tax Return mean? A tax return is the completion of documentation that calculates an entity’s or individual's income earned with the amount of tax payable to the government, government organizations or to potential taxpayers. Specific tax forms can be used by taxpayers, or private entities that are required to report information on the tax liabilities together with income earners, businesses, and companies. Taxation is one of the biggest governmental sources of income. There are two types of taxes—direct and indirect—which are both parts of the tax revenue. Tax revenue is the income of government gained from taxes that are levied on income, profit, goods and services, land revenue, ownership, and transfer of property, and other taxes. It shows how effectively and to what extent the government manages the resources of the economy. Total tax revenue is then the percentage of GDP which stands as an indicator of the share of the country’s output collected by the government through taxes. Tax revenue is used by governments to grant sums of money to communities, including military, education, hospitals, and infrastructure. There are many programs that use money from the tax revenue such as defence and security that includes grants for Department of Defence; social security programs, major health programs, or safety net programs which are for example unemployment insurance, low-income housing assistance, food stamps etc. In the United States the Internal Revenue Service (IRS) administers federal tax laws. It is a government entity that fulfils three main functions. Firstly, it processes tax returns. Secondly, it provides services for taxpayers. Thirdly, it enforces the tax laws enacted by Congress. Furthermore, IRS also investigates financial crimes and oversees tax-exempt organizations. Citizens in Sweden, Denmark, Finland, and Iceland pay the highest taxes. Aside from the Nordic countries, Austria, the Netherlands, and Belgium also have high taxes. In contrast, countries such as Saudi Arabia, Brunei, Monaco, the Cayman Islands, Bahamas, and Andorra are so-called tax havens. These countries either have very low taxes, or none at all. reference
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| 99. |
NRTC meaning in Income Tax ? |
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Answer» INFO: Full form for NRTC is Neighborhood Revitalization Tax Credit in Income Tax category
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| 100. |
RWT meaning in Income Tax ? |
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Answer» INFO: Full form for RWT is Resident Withholding Tax in Income Tax category
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