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accrue |
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accrue To accumulate; grow. A $100,000 loan at 7 percent interest accrues interest at the rate of $7,000 per year, or $19.18 per day. The mortgage holder on a property being sold will typically tell the closing company a payoff amount accurate as of the anticipated closing date, with a daily accrual for each day closing is delayed. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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The aggregate amount of interest to be paid under the instrument
before the close of such accrual period; and 3. IRS Field Attorney Advice 20061701F, (April 28, 2006), which may
not be used or cited as precedent, considered whether accrual basis
taxpayers can deduct employment taxes on vacation/bonus pay accrued at
year-end, but not paid until the next year. Although the Internal Revenue Service has long since shifted from
the friendly and service-oriented approach to a tough guy persona, (1)
taxpayers have still taken some solace that they could generally enjoy
protection of their tax accrual workpapers. |
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