Tax Basics and Policy

Tax basics and policy pages now keep only a small bridge set for finance readers.

The retained pages focus on tax-equivalent yield and public-finance instruments such as tax anticipation bills, tax anticipation notes, and tax and loan accounts.

Broad tax policy, tax administration, taxpayer status, and general tax-law pages belong on TaxTermsLexicon unless they directly support investment, credit, or public-finance analysis.

In this section

• Tax and Loan Account: Repository for U.S. Treasury Operating Cash
  A Tax and Loan (T&L) Account is an account held at private-sector depository institutions in the name of the district Federal Reserve Bank, serving as a repository for operating cash available to the U.S. Treasury.
• Tax Anticipation Bill (TAB): Short-term U.S. Treasury Obligation
  A Tax Anticipation Bill (TAB) is a short-term obligation issued by the U.S. Treasury, offering a secure investment option for corporations to manage their tax payments efficiently.
• Tax Anticipation Note (TAN): Short-Term Government Obligation
  A comprehensive guide to Tax Anticipation Notes (TAN) used by state and municipal governments to finance current expenditures pending receipt of expected tax payments.
• Tax-Equivalent Yield: Turning a Tax-Free Yield Into a Taxable-Yield Comparison
  Learn what tax-equivalent yield measures, how to calculate it, and why it is essential when comparing municipal bonds with taxable bonds.