This article will go into the IRS use of meanings in their code. In fact any agency of government or the legislature of a state, or Congress that uses the word TERM in it’s statutes is totally different when TERM is not used. WORD and TERM are entirely two separate and distinct conveyances of ideas. If TERM is used in a definition that signifies a special meaning to the words that follow the word TERM. For it is the man’s idea, who is the proponent of the idea, as to just what meaning that term has in his mind. It can be totally different than what you are used to when using that word. It is really not that hard to grasp the differences. You will see as we move along. First is to set the foundation in understandable use for this discussion.

The following from Blk’s Law 4th Ed.

TERM. A word or phrase; an expression; particularly one which possesses a fixed or known meaning in some science, art, or profession.

WORDS. Symbols indicating idea and subject to contraction and expansion to meet the idea sought to be expressed. * * * As used in law, this term generally signifies the technical terms and phrases appropriate to particular instruments, or aptly fitted to the expression of a particular intention in legal instruments. See the subtitles following.

WORDS OF ART. The vocabulary or terminology of a particular art or science, and especially those expressions which are idiomatic or peculiar to it. See Cargill v Thompson, 57, Minn. 534, 59 N.W. 638

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