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Simple English definitions for legal terms

equitable recoupment

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A quick definition of equitable recoupment:

Equitable recoupment is a rule that allows a person to use money they overpaid in taxes in the past to pay for taxes they owe now, even if they can't get a refund for the overpaid taxes. It's like using money you saved up for something else to pay for something you need now.

A more thorough explanation:

Equitable recoupment is a legal doctrine that allows a taxpayer to offset previously overpaid taxes against current taxes due, even if the taxpayer is no longer able to claim a refund on the previous taxes.

Let's say that in 2015, John overpaid his taxes by $5,000. However, he didn't realize this until after the statute of limitations for claiming a refund had passed. In 2019, John owes $10,000 in taxes. Under the doctrine of equitable recoupment, John can offset the $5,000 he overpaid in 2015 against the $10,000 he owes in 2019, reducing his tax liability to $5,000.

This doctrine is based on the principle of fairness. If a taxpayer has overpaid taxes in the past, it would be unfair to require them to pay additional taxes without allowing them to offset the overpayment. Equitable recoupment ensures that taxpayers are not penalized for mistakes made in the past.

equitable-parent doctrine | equitable remedy

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awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
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