related party


A party (individual or group) who is related in some way to the initial party. A related party could include a family member or relative, stockholder, or a related corporation.

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The related party to the homeowner conducted the real estate sale as he had the power of attorney to do so.

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Dylan was active with the protest groups in his neighborhood as well as a related party in the area where he worked.

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The Internal Revenue Service will typically disallow the recognition of losses resulting from a transaction entered into with a related party.

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1120 Form Schedule UTP related party transaction