- Recapture
- The repayment of a tax credit if requirements were not met by the taxpayer since claiming the credit.
- Refund
- The amount of money you receive back from the IRS when you have
paid more taxes (usually through paycheck withholding) than you owe.
- Refundable
- A credit which will paid to you as a refund if you owe no tax.
- Report
- To give information to the IRS, generally by filling out a form.
- Resident Alien
- A citizen of a foreign country who lives and works legally in the
U.S.A. but is not a United States citizen. Resident aliens are subject
to U.S. tax laws.
- Roth IRA
- A special kind of Individual Retirement Account
named after Senator William Roth of Delaware. Contributions are not tax
deductible, but interest and qualified withdrawals (after reaching
retirement age) are completely tax-free.
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