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A 988 transaction is a transaction described in section 988(c)(1) of the Internal Revenue Code [1] in the United States of America. This transaction occurs when a taxpayer enters into or acquires any debt instrument, forward contract , futures contract , option, or similar financial instrument held in a non-functional currency . [ 1 ]
A facilitating payment, facilitation payment, [1] or grease payment [2] is a payment to government employees to speed up an administrative process whose outcome is already determined. [3] Although ethically questionable, it is not considered to be bribery according to the legislation of some states as well as in international anti-bribery ...
A user fee is a fee, tax, or impost payment paid to a facility owner or operator by a facility user as a necessary condition for using the facility. People pay user fees for the use of many public services and facilities .
Set user charges sufficient to recover the full cost to the federal government of providing the service, resource or good provided by the government; and, Whenever possible set the charges at rates rather than fixed dollar amounts in order to adjust for changes in costs to the government or changes in market prices for provided goods, resources ...
Government revenue or national revenue is money received by a government from taxes and non-tax sources to enable it, assuming full resource employment, to undertake non-inflationary public expenditure. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy.
User fees collected in exchange for the use of many public services and facilities. Tolls charged for the use of toll roads are an example; Fees for the granting or issuance of permits or licenses. Examples include: vehicle registration plate permits or vehicle registration fees; watercraft registration fees; building fees; driver's licenses
TikTok will be banned in the United States on Jan. 19, 2025, after a federal appeals court rejected its bid to overturn the ban that President Biden signed in April. The law states that if TikTok ...
In the United States, payment in lieu of taxes can arise in several ways: Land owned by the federal government is generally not subject to taxation by state or local governments. Under Public Law 94-565, enacted in 1976, the federal government began making payments in lieu of taxation to local governments affected by this reduction in their tax ...