Tax Glossary IGTax

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There are currently 2 names in this directory beginning with the letter Z.
Z
ZERO BRACKET AMOUNT (ZBA)
previous feature of state and federal income taxes. A flat deduction given to all taxpayers, the amount of which varied by tax filing status. The ZBA replaced the standard deduction and was incorporated in the tax tables, but was repealed and the standard deduction reinstated in 1987.
ZERO SUM
With a fixed pool of money, if one party receives an increased share, other parties must lose a commensurate amount.

Tax Glossary