Tax acceleration

{
  "id": "MLC-T-INS-003281",
  "term": "Tax acceleration",
  "field": "Insurance and risk management",
  "definition": "The shifting of a tax deduction into an earlier tax year, for example by paying an expense or insurance premium before year end, so that taxable income falls sooner. A related sense is an event that ends a deferral and makes a tax payable earlier than planned. It is the opposite of deferral, which moves income or tax payment to a later period.",
  "url": "https://mlchart.com/terminology/insurance/tax-acceleration/"
}