Tax Terminology
Here at PSVS we are in the trenches every day helping you navigate your way through the various complexities of your accounting-related activities. It is easy to forget that not everyone knows all the accounting-specific terminology we use daily.
We have created this fairly comprehensive glossary to supplement your knowledge and understanding and hopefully answer some of your questions.
Of course, if you have any questions send us an email or give us a call: (650) 578-1200.
W-2 (form)
A form that provides the employee with a summary of earnings and amounts withheld for federal, state, and local taxes; also called a wage and tax statement.
W-3 (form)
The Transmittal of Wage and Tax Statements, filed with the federal government to summarize the information contained on the employees' Forms W-2.
Wash Sale
A stock transaction in which the person sells or trades stock or securities at a loss and, within 30 days before or after the sale, acquires substantially identical stock or securities, either directly or through an option.
Wilma GO Zone
The portion of the Hurricane Wilma disaster area determined by the President before November 14, 2005, to warrant individual or individual and public assistance from the federal government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Wilma.
