When a taxpayer qualifies for this relief, it is necessary to allocate the tax deficiency between the taxpayers who filed the joint return.
What does ALLOC stand for?
ALLOC stands for Allocate
This definition appears very frequently and is found in the following Acronym Finder categories:
- Military and Government
- Adult Literacy, Language and Numeracy (UK)
- Animal Love and Loss Network (Bozman, MD)
- N-Acetyl-Leucine Leucine Norleucinal (aka N-Acetyl-Leucinal-Leucinal-Norleucinal)
- All Navy (message to all Navy personnel)
- All Naval Stations
- Anterior Lateral Line Nerve Ganglion
- A Life Less Ordinary
- All Other (countries)
- Closely Related (Prefix)
- Allogeneic Bone Marrow Transplantation
- Adaptive Limited Look-Ahead Optimization of Network Signals - Decentralized
- Allocation Request (US DoD)
- Alliance Operating System
- Aldo Leopold Leadership Program
- A Layman's List of Practical Auto Resources (website)
- Action Learning for Lifelong Professional Development (UK)
- Alliance for Parental Involvement in Education (East Chatham, NY)
- Actual-Date Long Lead Items List Provisioned Items Order (US DoD DLA (Defense Logistics Agency))
- Applied Language and Literacies Research Unit (UK)
Samples in periodicals archive:
The IRS recently issued temporary regulations requiring partnerships to allocate foreign taxes in the same way that they allocate the income to which those taxes relate.
Although many charitable contributions are apportioned based on gross income under the extant regulations, a taxpayer in certain circumstances may properly allocate the deduction to one or more classes of gross income.
861-9T(g) explains the tax book value and FMV methodologies and provides an election to allocate and apportion interest expense on the basis of either methods, (13) while Regs.
The Tax Court had to decide how to allocate an LLC's liability.
Thus, any other "facts and circumstances" method, such as specific identification, burden rate, standard cost or "other reasonable allocation methods," must allocate costs to specific inventory items; see Regs.
This raises numerous compliance issues and compounds the uncertainties CPAs face when they prepare gift tax returns and allocate GST exemption.