If you pay interest in advance for a period that goes beyond the end of the tax year, payments will normally be spread over the tax years to which it applies.
Financial and business terms. 2012.
interest rate — The percentage of an amount of money which is paid for its use for a specified time. Commonly expressed as an annual percentage rate (APR). Federal and state laws regulate interest rate amounts and disclosures on consumer loans. See annual… … Black's law dictionary
interest rate — The percentage of an amount of money which is paid for its use for a specified time. Commonly expressed as an annual percentage rate (APR). Federal and state laws regulate interest rate amounts and disclosures on consumer loans. See annual… … Black's law dictionary
advance — ad·vance 1 vt ad·vanced, ad·vanc·ing: to supply or provide ahead of time: as a: to give (a gift) by way of or as an advancement b: to supply (as money) beforehand in expectation of repayment or other future adjustment advance 2 n: a provision of… … Law dictionary
interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim … Law dictionary
Interest — Interest † Catholic Encyclopedia ► Interest Notion of interest Interest is a value exacted or promised over and above the restitution of a borrowed capital. ♦ Moratory interest, that is interest due as an indemnity or a… … Catholic encyclopedia
Interest on Lawyer Trust Accounts — (IOLTA) is a type of program in which interest earned from money held in a lawyer trust accounts is aggregated and required to paid to another state agency, subsidizing legal services for those who cannot afford them.HistoryThe practice is that a … Wikipedia
Advance-fee fraud — African sting An advance fee fraud is a confidence trick in which the target is persuaded to advance sums of money in the hope of realizing a significantly larger gain.[1] Among the variations on this type of scam are the Nigerian Letter (also… … Wikipedia
Advance health care directive — Living Will redirects here. For the 2011 film starring Ryan Dunn, see Living Will. Wills, trusts … Wikipedia
Advance-Rumely — The Advance Rumely Company of La Porte, Indiana was organized in 1915 as a producer of many types of agricultural machinery, most notably threshing machines and large tractors. Advance Rumely was purchased by Allis Chalmers Manufacturing Company… … Wikipedia
advance — {{Roman}}I.{{/Roman}} noun 1 forward movement ADJECTIVE ▪ rapid ▪ Allied, British, German, etc. VERB + ADVANCE ▪ make … Collocations dictionary
