Acronyms and Abbreviations

From TaxAlmanac

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Tax & Accounting Acronyms

AAA 

Accumulated Adjustment Account

ACE 

Adjusted Current Earnings

ACS 

Automated Collection System (IRS)

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

ASED 

Assessment Statute Expiration Date

ASG 

Affiliated Service Group

ATG 

Audit Technique Guide - Market Segment Specialization Program on TaxAlmanac links to the various guides

BDA 

Beneficiary Designation Account (inherited IRA account)

BFR; BFRT 

Bona Fide Resident Test

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

CGFM

Certified Government Financial Manager

CHC 

Closely Held Corporation

CID 

Criminal Investigation Division

CLAT 

Charitable Lead Annuity Trust

CLUT 

Charitable Lead Unitrust

COLI 

Cost Of Living Increase

COLI 

Corporate-Owned Life Insurance policies;

CPM  

Certified Public Manager

CRAT 

Charitable Remainder Annuity Trust

CRT 

Charitable Remainder Trust

CRUT 

Charitable Remainder Unitrust

CS 

Common Stock

CSED 

Collection Statute Expiration Date

DBA 

Doing Business As

DISC 

Domestic International Sales Corporation

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)

E&O 

Errors & Omissions, as in E & O Insurance

E&P 

Earnings & Profits

EBE 

Employee Business Expenses

EDD 

Employment Development Department (of a given state)

EE 

Employee

EGTRRA 

Economic Growth and Tax Relief Reconciliation Act of 2001

EOY 

End of Year

ER 

Employer

ESB 

Eligible Small Business

ESOP 

Employee Stock Ownership Plan

ETA 

Effective Tax Administration

FATP 

Federally Authorized Tax Practitioner (EA, CPA, Attorney, etc.)

FLP 

Family Limited Partnership

FMV 

Fair Market Value

FPHCI 

Foreign Personal Holding Company Income

FSA 

Field Service Advice (IRS writing)

FSC 

Foreign Sales Corporation

FTC 

Foreign Tax Credit

FYE 

Fiscal Year End

GAAP 

Generally Accepted Accounting Principles

GCM 

General Counsel Memorandum (IRS writing)

GST 

Generation Skipping Trust

ILM 

Internal Legal Memorandum (IRS writing)

IR  

Information Release - News_Releases on TaxAlmanac links to the various IRS sites for IRs and Fact Sheets

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

LUST 

Leaking Underground Storage Tank

MLTN 

More Likely Than Not

MMLLC 

Multi Member LLC

MRD 

Minimum Required Distribution

NCFB 

NonCash Fringe Benefit (per Paychex)

NOL 

Net Operating Loss

NPO 

Not for Profit Organization

NUA 

Net Unrealized Appreciation

OAA 

Other Adjustments Account

OIC 

Offer in Compromise

PAL 

Passive Activity Loss

PBC 

Prepared By Client

PHC 

Personal Holding Company

PLR 

Private Letter Ruling

PPT 

Physical Presence Test

PSC 

Personal Service Corporation

PTP 

Publicly Traded Partnership

PUCC 

Personal Use Company Car (Paychex)

QBU 

Qualified Business Unit (See Sect. 985 - Functional Currency)

QDRO 

Qualified Domestric Relations Order

QPAI 

Qualified Production Activity Income (IRC Sec. 199)

QTDP 

Qualified Therapeutic Discovery Project

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

SCIN 

Self-Cancelling Installment Note

SFR 

Substitute For Return

SLOB 

Separate Line Of Business

SMLLC 

Single Member LLC

SOL 

Statute of Limitations

TAM 

Technical Advice Memoranda (IRS writing)

TC 

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

TFRP 

Trust Fund Recovery Penalty

TIC 

Tenants in Common

TMT 

Tentative Minimum Tax

TS 

Treasury Stock

UBIT 

Unrelated Business Income Tax (generally related to a tax-exempt org's activities)

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)

Other Internet Acronyms

FYI 

For Your Information

<G> 

Grin

IANAL 

I am not a lawyer.

IDEPOOTV 

I don't even play one on television.

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

PSL 

Personal Seat License (at football stadiums, etc.)

ROFTL 

Record of Federal Tax Liability

ROTFL 

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

RTFQ 

Read the Full Question

SMH 

Shaking my head

SNAFU 

Situation Normal: All f√cked Up!

SOL 

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

STP  

[Screw The Pooch http://en.wiktionary.org/wiki/screw_the_pooch] f√ck Up

<VBG> 

Very Big Grin

more: A broader list of common internet acronyms

Discussion Forum (and UserID) nicknames and acronyms

(Please limit this to nicknames/abbreviations that are actually used to refer to actual users on a common basis....)

CK, Chrisk, and "mr. president" - User:Ckenefick

DF, or Dave: User:DaveFogel

D&T, or David - User:Death&Taxes

Harry, or "Spell" - User:Spell Czech, but not User:SpellCzech

IDYM - User:IDrinkYour Milkshake

K5 - User:Kevinh5

Lenny, or Len - User:Podolin

Riley - User:Riley2, User:R2, and a few others who were/are a bit more low-key

Snork, or "the snork" - User:Nightsnorkeler

Tim, the Intuit moderator - User:Tdoyle

Trill (or sometimes ~T, after an edit to fix a copyright or advertising violation) - User:Trillium

The examples shown above are simply the ones that came to mind first, mainly because CK listed them for us in a recent post. Apologies in advance to those who should have had their nicknames listed in the "first" group.