Sunday, March 30, 2008

Tax Term of the Week

Tax Liability- The total tax bill that an individual or business owes after all withholding (individuals), Federal Tax Deposits (businesses), Estimated Tax Payments (individuals, sole proprietorships & corporations), and payments attached to the tax return are submitted and credited by the IRS.

1 comment:

Anonymous said...

Good definition that everyone needs to know T -

Diane