Ever noticed what de minimis means and why it's mentioned in legal and tax discussions? In general, de minimis means very small or insignificant, and may not warrant additional legal, administrative or regulatory measures. Use of the de minimis rule helps authorities not waste their resources on issues that are relatively insignificant in practice. In taxation, there are thresholds that may mean that different treatment is given to things that are very low in value. The
De Minimis Tax Rule may be helpful to individuals and businesses in identifying situations where small amounts may be subject to different treatment under the relevant tax rules.
