Browse full definitions for every IR term in the Amicus glossary.
/ˈɪrə/
She contributed the maximum amount to her IRA this year.
Commonly used acronym in tax and retirement planning contexts, awareness of contribution limits and withdrawal rules is essential.
/ˈaɪ.rɑː ˈrɑː.loʊvər/
She completed an IRA rollover to move her savings into a new account without tax penalties.
An IRA rollover usually involves moving retirement assets within 60 days to avoid taxes; understanding timing and eligible accounts is crucial.
/ɪˈræʃənəl/
The court found the defendant's explanation irrational and dismissed it.
The agency's rule was overturned as arbitrary and irrational.
In legal contexts, 'irrational' frequently appears in administrative law when analyzing whether an agency's decision is supportable by a rational basis; it is critical to distinguish mere disagreement from legally significant irrationality.
/ɪˌræʃəˈnælɪti/
The court found the agency's rule invalid due to irrationality in its reasoning.
Irrationality often appears in judicial review contexts as a ground to challenge decisions lacking logical justification.
/ɪˈræʃənəli/
The court ruled that the defendant acted irrationally, voiding the contract due to lack of sound judgment.
Used to describe actions or decisions not grounded in reason, important in judicial review to assess whether decisions are legally sustainable.
/ɪˈrɛbɪtəbl/
The presumption of legitimacy is irrebuttable in this jurisdiction.
Typically used to describe presumptions or evidence that are final and cannot be challenged in court.
/ɪˌrɛbətəbl prɪˈzʌmpʃən/
The law establishes an irrebuttable presumption of death if a person has been missing for seven years without evidence to the contrary.
Irrebuttable presumptions remove the opportunity to present evidence to the contrary, thus requiring careful consideration when drafting statutes or rules to avoid unfair outcomes.
/ɪˈrɛɡjələr ˈwɔrˌfɛər/
The military strategists studied irregular warfare to counter insurgent groups effectively.
Irregular warfare is distinguished from traditional, state-on-state conflict by its reliance on non-traditional methods and often includes legal issues related to the status of combatants and applicability of international law.
/ɪˌrɛɡjəˈlærɪti/
The court dismissed the case due to an irregularity in the service of process.
The audit revealed multiple irregularities in the company's financial records.
Irregularity often implies a procedural flaw that does not necessarily invalidate an action but may require correction or sanction.
/ɪˈrɛlɪvənt ˈɛvɪdəns/
The judge excluded the irrelevant evidence from the trial to avoid confusing the jury.
Irrelevant evidence is typically excluded to ensure that only facts pertinent to the case influence the judgment; legal definitions emphasize its lack of probative value.
/ɪrɪˈzɪstəbl ɪmˈpʌls/
The defendant claimed an irresistible impulse prevented him from controlling his actions, thus negating criminal intent.
The irresistible impulse defense complements cognitive tests of insanity by focusing on volitional incapacity; its acceptance varies by jurisdiction and demands careful factual support.
/ɪrɪˈzɪstəbl ɜrdʒ/
The defendant claimed an irresistible urge compelled him to commit the act, which influenced the court's evaluation of criminal intent.
Typically arises in contexts involving volitional capacity and criminal responsibility; important in assessing whether an act was voluntary or the result of uncontrollable impulse.
/ɪˈrɛvəkəbəl/
The irrevocable trust cannot be altered once established.
Often used to stress that a legal act or instrument cannot be undone or withdrawn, highlighting finality and certainty in legal arrangements.
/ɪˈrɛvəkəbəl trʌst/
The grantor transferred assets into an irrevocable trust to ensure they were protected from creditors.
Irrevocable trusts are often used in estate planning to protect assets and reduce tax liability since the grantor relinquishes control over the transferred property.
/ɪˈrɛvəˌkəbli/
The parties agreed irrevocably to abide by the terms of the contract.
Often used in contracts to emphasize finality and prevent withdrawal of consent or terms.
/ˌaɪˌɑːrˈɛs/
The IRS audits individuals to ensure proper income tax payment.
Abbreviated form commonly used in legal and tax contexts; always capitalized.
/ˌaɪ.ɑrˈɛs fɔrm ˌwʌnˈoʊ naɪn/
The company issued an IRS Form 1099 to report the freelance payments made during the tax year.
IRS Form 1099 covers various individual forms for different income types; precision in specifying the form variant (e.g., 1099-MISC) is important in legal and tax contexts.
/ˌaɪˌɑːrˈɛs fɔːrm wʌnˌwʌnˈtwɛnti/
Corporations file IRS Form 1120 annually to comply with federal tax requirements.
Typically prepared by corporate accountants or tax professionals, accuracy in completing IRS Form 1120 is critical to avoid penalties and ensure correct tax treatment.
/ˌaɪˌɑːrˈɛs fɔːrm ˈtuːˈfɪftiːˈθriː/
The company submitted IRS Form 2553 to elect S corporation status for federal tax purposes.
Properly filing IRS Form 2553 is crucial to ensure timely and effective S corporation election, impacting the corporate tax treatment.
/ˌaɪ.ɑrˈɛs fɔrm ˈnaɪnti ˈfɔrti/
Employers must file IRS Form 940 annually to report their federal unemployment tax liability.
IRS Form 940 specifically covers federal unemployment tax and is distinct from other payroll tax forms like IRS Form 941.
/ˌaɪˌɑːrˈɛs fɔːrm ˈnaɪnti fɔːr wʌn/
The company submitted its IRS Form 941 for the second quarter to report payroll taxes withheld.
IRS Form 941 must be filed quarterly by most employers; accurate reporting is crucial to avoid penalties.
/ˌaɪ.ɑːrˈɛs fɔːrm dʌbəljuː tuː/
Employees receive an IRS Form W-2 from their employer every year to file federal and state tax returns.
The IRS Form W-2 is a critical document for both employers and employees in tax reporting; accuracy in reporting wages and withholdings is essential to avoid penalties.
/ˌaɪˌɑːrˈɛs fɔrm dʌbəlju fɔːr/
The employee submitted the IRS Form W-4 to ensure the correct tax withholding from each paycheck.
IRS Form W-4 is critical for accurate tax withholding; employees should update it with life or financial changes to avoid underpayment or overpayment of federal taxes.
/ˌaɪˌɑːrˈɛs ˌɪntərˈmiːdiət ˈsænkʃən/
The nonprofit was subject to an IRS intermediate sanction for improperly rewarding its CEO.
Use precise references to IRS rules and section 4958 when drafting related clauses or legal analyses.
/ˌaɪ.ɑːrˈɛs ˈnoʊ.tɪs/
The IRS notice requested additional documentation to verify the deductions claimed.
An IRS notice is a formal step in tax proceedings; accuracy in referencing the specific notice type is essential for clarity and response timing.
