Acronyms and Abbreviations

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Tax & Accounting Acronyms

AAA 

Accumulated Adjustment Account

ACE 

Adjusted Current Earnings

AEP 

Accumulated Earnings and Profits

AFR 

Applicable Federal Rate

AGI 

Adjusted Gross Income

AMT 

Alternative Minimum Tax

AMTI 

Alternative Minimum Taxable Income

APIC 

Additional Paid In Capital

BOY 

Beginning of Year

C/B 

Carryback; e.g., NOL C/B

C.B. 

Cumulative Bulletin - Issued by the IRS

CCA 

Chief Counsel's Advice (IRS writing)

C/F 

Carryforward; e.g., NOL C/F

CFE 

Certified Fraud Examiner

CHC 

Closely Held Corporation

CLAT 

Charitable Lead Annuity Trust

CLUT 

Charitable Lead Unitrust

CRAT 

Charitable Remainder Annuity Trust

CRT 

Charitable Remainder Trust

CRUT 

Charitable Remainder Unitrust

CSED 

Collection Statute Expiration Date

DM 

Debit Memo

DNI 

Distributable Net Income of a fiduciary 1041 income tax return

DOD 

Date of Death

DPAD 

Domestic Production Activities Deduction (IRC Sec. 199)

DPGR 

Domestic Production Gross Receipts (IRC Sec. 199)

EBE 

Employee Business Expenses

E&O 

Errors & Omissions, as in E & O Insurance

E&P 

Earnings & Profits

EE 

Employee

EOY 

End of Year

ER 

Employer

ESOP 

Employee Stock Ownership Plan

FLP 

Family Limited Partnership

FMV 

Fair Market Value

FPHCI 

Foreign Personal Holding Company Income

FSA 

Field Service Advice (IRS writing)

FYE 

Fiscal Year End

GAAP 

Generally Accepted Accounting Principles

GCM 

General Counsel Memorandum (IRS writing)

ILM 

Internal Legal Memorandum (IRS writing)

IRB 

Internal Revenue Bulletin

IRC 

Internal Revenue Code

IRD 

Income in Respect of a Decedent - IRD

IRM 

Internal Revenue Manual

LLC 

Limited Liability Company

LLP 

Limited Liability Partnership

MLTN 

More Likely Than Not

MMLLC 

Multi Member LLC

MRD 

Minimum Required Distribution

NOL 

Net Operating Loss

NPO 

Not for Profit Organization

NCFB 

NonCash Fringe Benefit (per Paychex)

OAA 

Other Adjustments Account

PHC 

Personal Holding Company

PLR 

Private Letter Ruling

PSC 

Personal Service Corporation

PTP 

Publicly Traded Partnership

PUCC 

Personal Use Company Car (Paychex)

QDRO 

Qualified Domestric Relations Order

QPAI 

Qualified Production Activity Income (IRC Sec. 199)

RBD 

Required Beginning Date

RMD 

Required Minimum Distribution

ROFTL 

Record of Federal Tax Liability (not to be confused with ROTFL)

SALY 

Same As Last Year

SCA 

Service Center Advice

SMLLC 

Single Member LLC

TAM 

Technical Advice Memoranda (IRS writing)

TC 

Tax Court (i.e. United States Tax Court)

TIC 

Tenants in Common

TMT 

Tentative Minimum Tax

UBIT 

Unrelated Business Income Tax

UGMA 

Uniform Gift to Minors Act

UPE 

Unreimbursed Partnership Expenses

UPIA 

Uniform Principal and Income Act - used by trusts ; note that some states have adopted different versions, look yours up here

UTMA 

Uniform Transfers to Minors Act

ZBA 

Zero Balance Account (used by controlled corporations)

Discussion Forum / Other Acronyms

FYI 

For Your Information

<G> 

Grin

IMO 

In My Opinion

IMHO 

In My Humble Opinion

IOW 

In Other Words

LOL 

Laughing out loud

OP 

Original Poster - the person who originally asked the question

ROTFL 

Rolling on the Floor Laughing (Not to be confused with ROFTL)

SOL 

(Not Related to NOL), S*** Out of Luck

<VBG> 

Very Big Grin