Industry Related Definitions
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W
Warrant
A
certificate authorizing the holder to buy a corporation's stock at a
specified price, either indefinitely or within a certain time.
Warrants are different from rights in that they generally last longer,
and the price at which the holder is entitled to buy the stock usually
is more than the stock's market price when the warrant was issued.
Wash Sale
The
purchase of substantially similar stock or other securities within 30
days before or after the sale of the similar stock or security at a
loss. A taxpayer cannot claim a wash sale loss; instead, the loss is
added to the basis of the most recently purchased substantially
similar securities.
Welfare to Work Credit
A tax
credit for employers who hire workers off welfare rolls.
Widow
A woman
who has not remarried following the death of her husband.
Widower
A man who
has not remarried following the death of his wife.
Withholding of Tax at Source
The withholding of tax by a payer prior to payment of various types of
income as required by the tax Code. The recipient of the income claims
the amount withheld as a tax payment on his or her tax return.
Work Opportunity Credit
A credit
available to employers who hire employees from specified disadvantaged
groups.
Working
capital
The
difference between the current assets and the current liabilities of a
business.
Working Interest
An
operating interest in oil and gas in place that is burdened with the
responsibility and cost of developing and operating the property.
Worksheet
A record
of compiled information that is generally not sent to the IRS with a
tax return.
Worthless Securities
A loss is
allowed for a security that becomes worthless during the year. The
loss is deemed to have occurred on the last day of the year. Special
rules apply to securities of affiliated companies and small business
stock.
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