tax benefit doctrine
tax benefit doctrine
Law Definition
n
The
principle that if a loss was suffered in a previous year and taken as an income
reduction for tax purposes, and an insurance reimbursement for that loss is
received in the current year, that reimbursement must be counted as part of
gross income for the current year, at least in the amount of the reduction
previously taken.
Browse dictionary entries near tax benefit doctrine
- tax base
- tax avoidance
- tax audit
- tax anticipation note
- tax abatement
- tax
- tawse
- tawny
- Tawney
- tawdry
