Irs Section 368 #1 Section 368 Tax Free

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Irs Section 368 #1 Section 368 Tax Free

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Irs

IRS,
  • Internal Revenue Service.

  • Section

    sec•tion (sekshən),USA pronunciation n. 
    1. a part that is cut off or separated.
    2. a distinct part or subdivision of anything, as an object, country, community, class, or the like: the poor section of town; the left section of a drawer.
    3. a distinct part or subdivision of a writing, as of a newspaper, legal code, chapter, etc.: the financial section of a daily paper; section 2 of the bylaws.
    4. one of a number of parts that can be fitted together to make a whole: sections of a fishing rod.
    5. (in most of the U.S. west of Ohio) one of the 36 numbered subdivisions, each one square mile (2.59 sq. km or 640 acres), of a township.
    6. an act or instance of cutting;
      separation by cutting.
      • the making of an incision.
      • an incision.
    7. a thin slice of a tissue, mineral, or the like, as for microscopic examination.
    8. a representation of an object as it would appear if cut by a plane, showing its internal structure.
    9. [Mil.]
      • a small unit consisting of two or more squads.
      • Also called  staff section. any of the subdivisions of a staff.
      • a small tactical division in naval and air units.
      • a division of a sleeping car containing both an upper and a lower berth.
      • a length of trackage, roadbed, signal equipment, etc., maintained by one crew.
    10. any of two or more trains, buses, or the like, running on the same route and schedule at the same time, one right behind the other, and considered as one unit, as when a second is necessary to accommodate more passengers than the first can carry: On holidays the New York to Boston train runs in three sections.
    11. a segment of a naturally segmented fruit, as of an orange or grapefruit.
    12. a division of an orchestra or band containing all the instruments of one class: a rhythm section.
    13. [Bookbinding.]signature (def. 8).
    14. Also called  section mark. a mark used to indicate a subdivision of a book, chapter, or the like, or as a mark of reference to a footnote.
    15. [Theat.]one of a series of circuits for controlling certain lights, as footlights.
    16. shape (def. 12).

    v.t. 
    1. to cut or divide into sections.
    2. to cut through so as to present a section.
    3. to make an incision.

    Section

    sec•tion (sekshən),USA pronunciation n. 
    1. a part that is cut off or separated.
    2. a distinct part or subdivision of anything, as an object, country, community, class, or the like: the poor section of town; the left section of a drawer.
    3. a distinct part or subdivision of a writing, as of a newspaper, legal code, chapter, etc.: the financial section of a daily paper; section 2 of the bylaws.
    4. one of a number of parts that can be fitted together to make a whole: sections of a fishing rod.
    5. (in most of the U.S. west of Ohio) one of the 36 numbered subdivisions, each one square mile (2.59 sq. km or 640 acres), of a township.
    6. an act or instance of cutting;
      separation by cutting.
      • the making of an incision.
      • an incision.
    7. a thin slice of a tissue, mineral, or the like, as for microscopic examination.
    8. a representation of an object as it would appear if cut by a plane, showing its internal structure.
    9. [Mil.]
      • a small unit consisting of two or more squads.
      • Also called  staff section. any of the subdivisions of a staff.
      • a small tactical division in naval and air units.
      • a division of a sleeping car containing both an upper and a lower berth.
      • a length of trackage, roadbed, signal equipment, etc., maintained by one crew.
    10. any of two or more trains, buses, or the like, running on the same route and schedule at the same time, one right behind the other, and considered as one unit, as when a second is necessary to accommodate more passengers than the first can carry: On holidays the New York to Boston train runs in three sections.
    11. a segment of a naturally segmented fruit, as of an orange or grapefruit.
    12. a division of an orchestra or band containing all the instruments of one class: a rhythm section.
    13. [Bookbinding.]signature (def. 8).
    14. Also called  section mark. a mark used to indicate a subdivision of a book, chapter, or the like, or as a mark of reference to a footnote.
    15. [Theat.]one of a series of circuits for controlling certain lights, as footlights.
    16. shape (def. 12).

    v.t. 
    1. to cut or divide into sections.
    2. to cut through so as to present a section.
    3. to make an incision.

    Tax

    tax (taks),USA pronunciation n. 
    1. a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc.
    2. a burdensome charge, obligation, duty, or demand.

    v.t. 
    1. (of a government)
      • to demand a tax from (a person, business, etc.).
      • to demand a tax in consideration of the possession or occurrence of (income, goods, sales, etc.), usually in proportion to the value of money involved.
    2. to lay a burden on;
      make serious demands on: to tax one's resources.
    3. to take to task;
      censure;
      reprove;
      accuse: to tax one with laziness.
    4. to charge: What did he tax you for that?
    5. [Archaic.]to estimate or determine the amount or value of.

    v.i. 
    1. to levy taxes.
    taxer, n. 
    taxing•ly, adv. 
    taxless, adj. 
    taxless•ly, adv. 
    taxless•ness, n. 

    Free

    free (frē),USA pronunciation adj.,  fre•er, fre•est, adv., v.,  freed, free•ing. 
    adj. 
    1. enjoying personal rights or liberty, as a person who is not in slavery: a land of free people.
    2. pertaining to or reserved for those who enjoy personal liberty: They were thankful to be living on free soil.
    3. existing under, characterized by, or possessing civil and political liberties that are, as a rule, constitutionally guaranteed by representative government: the free nations of the world.
    4. enjoying political autonomy, as a people or country not under foreign rule;
      independent.
    5. exempt from external authority, interference, restriction, etc., as a person or one's will, thought, choice, action, etc.;
      independent;
      unrestricted.
    6. able to do something at will;
      at liberty: free to choose.
    7. clear of obstructions or obstacles, as a road or corridor: The highway is now free of fallen rock.
    8. not occupied or in use: I'll try to phone her again if the line is free.
    9. exempt or released from something specified that controls, restrains, burdens, etc. (usually fol. by from or of ): free from worry; free of taxes.
    10. having immunity or being safe (usually fol. by from): free from danger.
    11. provided without, or not subject to, a charge or payment: free parking; a free sample.
    12. given without consideration of a return or reward: a free offer of legal advice.
    13. unimpeded, as motion or movement;
      easy, firm, or swift.
    14. not held fast;
      loose;
      unattached: to get one's arm free.
    15. not joined to or in contact with something else: The free end of the cantilever sagged.
    16. acting without self-restraint or reserve: to be too free with one's tongue.
    17. ready or generous in giving;
      liberal;
      lavish: to be free with one's advice.
    18. given readily or in profusion;
      unstinted.
    19. frank and open;
      unconstrained, unceremonious, or familiar.
    20. unrestrained by decency;
      loose or licentious: free behavior.
    21. not subject to special regulations, restrictions, duties, etc.: The ship was given free passage.
    22. of, pertaining to, or characterized by free enterprise: a free economy.
    23. that may be used by or is open to all: a free market.
    24. engaged in by all present;
      general: a free fight.
    25. not literal, as a translation, adaptation, or the like;
      loose.
    26. uncombined chemically: free oxygen.
    27. traveling without power;
      under no force except that of gravity or inertia: free flight.
    28. (of a vowel) situated in an open syllable (opposed to checked).
    29. at liberty to enter and enjoy at will (usually fol. by of ): to be free of a friend's house.
    30. not subject to rules, set forms, etc.: The young students had an hour of free play between classes.
    31. easily worked, as stone, land, etc.
    32. (of a vector) having specified magnitude and direction but no specified initial point. Cf. bound1 (def. 9).
    33. Also,  large. (of a wind) nearly on the quarter, so that a sailing vessel may sail free.
    34. not containing a specified substance (often used in combination): a sugar-free soft drink.
    35. (of a linguistic form) occurring as an independent construction, without necessary combination with other forms, as most words. Cf. bound1 (def. 11).
    36. for free, [Informal.]without charge: The tailor mended my jacket for free.
    37. free and clear, [Law.]without any encumbrance, as a lien or mortgage: They owned their house free and clear.
    38. free and easy: 
      • unrestrained;
        casual;
        informal.
      • excessively or inappropriately casual;
        presumptuous.
    39. set free, to release;
      liberate;
      free: The prisoners were set free.
    40. with a free hand, generously;
      freely;
      openhandedly: He entertains visitors with a free hand.
    41. without cost, payment, or charge.

    adv. 
    1. in a free manner;
      freely.
    2. away from the wind, so that a sailing vessel need not be close-hauled: running free.
    3. make free with: 
      • to use as one's own;
        help oneself to: If you make free with their liquor, you won't be invited again.
      • to treat with too much familiarity;
        take liberties with.

    v.t. 
    1. to make free;
      set at liberty;
      release from bondage, imprisonment, or restraint.
    2. to exempt or deliver (usually fol. by from).
    3. to relieve or rid (usually fol. by of ): to free oneself of responsibility.
    4. to disengage;
      clear (usually fol. by from or of ).
    5. free up: 
      • to release, as from restrictions: Congress voted to free up funds for the new highway system.
      • to disentangle: It took an hour to free up the traffic jam.
    freeness, n. 

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