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Escrow Account
An escrow account is a temporary holding account managed by a third party to secure funds during a transaction. In accounting, escrow balances are recorded separately as restricted cash or liabilities. They are commonly used in acquisitions, property transactions, or legal settlements to ensure obligations are met before release.
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Excise Duty (Australia)
A tax levied on specific goods manufactured or produced in Australia, such as alcohol, tobacco, and fuel.
Employment Allowance
A UK relief allowing eligible employers to reduce their annual National Insurance liability by a set amount.
Estimated Tax Penalty
An IRS penalty applied when a US taxpayer underpays estimated taxes throughout the year.
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