Tax Definitions

Browse Investopedia's expert-written library to learn more about the language of taxes and the Internal Revenue Service. 

Tax Bracket
2025 Tax Brackets and Federal Income Tax Rates
Older couple with laptop discussing tax shelters
Tax Shelter: Definition, Examples, and Legal Issues
two accountants at desk looking at finances
Tax Accounting: Definition, Types, vs. Financial Accounting
senior couple looking at finances
Tax Deferred: Earnings With Taxes Delayed Until Liquidation
Two women going over their finances
Tax Benefit: Definition, Types, and IRS Rules
Person at a desk using a calculator and laptop to calculate their taxes
When Is Tax Season? Definition, Dates, and Deadlines
A taxpayer receives money after electing to use a refund anticipation loan from the business that completed their tax return.
Tax Refund Anticipation Loan (RAL): What it Means, How it Works
Person at desk doing their taxes
Tax Rate Definition, Effective Tax Rates, and Tax Brackets
Woman taking subway train in New York City.
Tax Home: What it is, How it Works, Examples and FAQ
A worker pulls their paycheck out out of an envelope while sitting at their office desk.
Taxable Event: What It Is and How It Works
A stressed taxpayer hold their head as they work on a desktop computer showing a IRS 1040 return with a nearby calculator, checkbook, and a stack of receipts
Taxpayer: Definition, Overview, and Types
Financial advisor consulting with young couple in living room
Taxable Wage Base: Overview and Example
A despondent homeowner sits surrounded by cardboard boxes after filing bankruptcy and being forced to sell their home.
Tax Attribute: What it is, How it Works, Example
Tax time
Tax Table Definition
Tax Year
What Is the Tax Year? Definition, When It Ends, and Types
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Taxes Definition: Types, Who Pays, and Why
A tax accountant sits at a desk covered with IRS tax forms and schedules to file taxes for their client.
Tax Schedule: What It Means and How It Works
A taxpayer places a finger on the line corresponding to their income tax bracket and enters that percentage into a calculator with the other hand.
Tax Indexing: What It Is, How It Works, and Example
Taxpayer doing their taxes and examining documents for a taxable gain.
Taxable Gain: What It is and how It Works
Financial advisor with clients discussing tax-sheltered investment vehicles that minimize tax drag.
Tax Drag: What It Means, How It Works, Example
A taxpayer calculates their total tax using the IRS Tax Bracket and a calculator.
Total Tax: What It Means, Rates, and Brackets
Tax Court
Tax Court: What It is, How it Works, Trial Procedures
Taxpayer Advocate Service (TAS)
Taxpayer Advocate Service (TAS)
Tax Clawback Agreement
Tax Clawback Agreement: What It is, How it Works, Example
An accountant works at an office desk to complete tax documents for a business.
What's the Difference Between a Tax Rate and a Tax Bracket?
A directional sign sits in a planting bed and shows the direction for visitors to enter the United States Internal Revenue Service building.
How the U.S. Tax Code Works and Its Sections