Income Tax Preparation

CEL Financial Services - Income Tax Preparation - Mobile Tax Preparer - Serving Fillmore, CA

tax return glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

E

Earned income

Includes wages, salaries, tips, includible in gross income, and net earnings from self-employment earnings.

Source: Understanding Taxes - Glossary - irs.gov

Earned Income Credit

A tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit.

Source: Understanding Taxes - Glossary - irs.gov

Electronic filing (e-file)

The transmission of tax information directly to the IRS using telephones or computers.

Source: Understanding Taxes - Glossary - irs.gov

Electronic preparation

Electronic preparation means that tax preparation software and computers are used to complete tax returns. Electronic tax preparation helps to reduce errors.

Source: Understanding Taxes - Glossary - irs.gov

Electronic Return Originator (ERO)

The Authorized IRS e-file Provider that originates the electronic submission of an income tax return to the IRS.

Source: Understanding Taxes - Glossary - irs.gov

Employee

Works for an employer. Employers can control when, where, and how the employee performs the work.

Source: Understanding Taxes - Glossary - irs.gov

Excise tax

A tax on the sale or use of specific products or transactions.

Source: Understanding Taxes - Glossary - irs.gov

Exempt (from withholding)

Free from withholding of federal income tax. A person must meet certain income, tax liability, and dependency criteria.

Source: Understanding Taxes - Glossary - irs.gov

Exemptions

Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax.

Source: Understanding Taxes - Glossary - irs.gov

Affordable Income Tax Preparation in Fillmore, CA

Christopher Lee, MPA ยท Registered CTEC Tax Preparer

Have your tax return done:

  • Professionally
  • Promptly
  • And in strict confidence
  • Individual & Small Business returns — Basic or involved
  • Back income tax returns that need filing or amending
  • IRS NOTICES — I can help with the proper response

A fast return brings:

  • Good news to a bad economy!

Tax Term of The Week

Software Developer - Develops software for the purposes of (1) formatting electronic tax return information according to IRS specifications, and/or (2) transmitting electronic tax return information... More...