A person whose spouse has died within the tax year and who may file a joint tax return for that year. Additionally, the surviving spouse can file joint returns for the next two years if they remain unmarried and maintain a household as the principal residence for a dependent child.
Spinoff
[SPIN-awf]
What is the definition of Spinoff?
A corporate action where a company transfers all or a portion of its subsidiary's stock or other assets to the stockholders of the parent company on a pro rata basis.
Using Spinoff in an Example
A notable example of a spinoff occurred when a large conglomerate decided to spin off its underperforming electronics division into a separate company, allowing it to focus on its core businesses. The shareholders of the parent company received shares in the new entity proportionate to their existing holdings.
Using Spinoff in a sentence
The board of directors is considering a spinoff of the automotive sector to streamline operations and maximize shareholder value.
Related Terms
Swap
A financial contract in which two parties agree to exchange streams of payments over a specified period, based on different indices such as interest rates, foreign exchange rates, or equity indices, applied to a notional amount. Swaps typically do not involve the exchange of principal.
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