Examlex
Data warehouse requirements can be refined and/or expanded following:
Amended Returns
The process of revising previously submitted tax returns to correct any errors or include new information.
Loss
The result when an entity's expenses exceed its revenues, leading to a negative net income or deficit in its financial results.
Tax Liability
The amount of tax owed to the government by an individual, corporation, or other entity in a specific period.
Taxable Income
The amount of income that is subject to income tax after all deductions and exemptions.
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