dual-status taxpayer


A taxpayer who is both a resident and nonresident alien in a single tax year. Where a person is a resident of the United States at the beginning of the year but a non resident alien at the end or vice versa, he is taxed as if his tax year consists of two periods. However, the duality only refers to resident and not citizenship.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
dual-purpose fund dud