Tax Anticipation Bill [TAB] Law and Legal Definition
Tax Anticipation Bill is a short-term debt security issued by the U.S. Treasury to raise funds during a period when tax receipts are not large enough to cover current disbursements. It can be used at face value upon maturity or a few days before to pay a federal tax obligation. The attractiveness of TABs is that the government will accept them in payment for taxes at their face value. These securities appeal primarily to corporations and relatively large investors with significant tax obligations.
Legal Definition list
Related Legal Terms
- Abatable Nuisance
- Abatement of Tax
- Abatement of Tax Assessment
- Ability to Pay [Tax Law]
- Abusive Tax Shelter
- Acceptability (Military)
- Acceptable Identification of Goods and Services Manual
- Acceptable Level of Academic Standing
- Acceptable Medical Source
- Acceptable Quality Level [Agricultural Marketing Service]
