For a cash basis taxpayer, income that has not actually been received by the taxpayer is taxed as though it had been received, thus income is considered constructively received when (mark apply that apply): A. The constructive receipt doctrine does not apply to income the taxpayer is not yet entitled to receive. B. The purpose of the constructive receipt doctrine is to prevent a cash basis taxpayer from deferring the recognition of income that, although not yet received, has been made practically available to the taxpayer. OC. The taxpayer's actual receipt is not subject to substantial limitations or restrictions. D. The amount is made readily available to the taxpayer. None of these are true
For a cash basis taxpayer, income that has not actually been received by the taxpayer is taxed as though it had been received, thus income is considered constructively received when (mark apply that apply): A. The constructive receipt doctrine does not apply to income the taxpayer is not yet entitled to receive. B. The purpose of the constructive receipt doctrine is to prevent a cash basis taxpayer from deferring the recognition of income that, although not yet received, has been made practically available to the taxpayer. OC. The taxpayer's actual receipt is not subject to substantial limitations or restrictions. D. The amount is made readily available to the taxpayer. None of these are true
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 12MCQ
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Question
Transcribed Image Text:For a cash basis taxpayer, income that has not actually been received by the taxpayer is taxed as though it had been received, thus income is considered constructively received when (mark apply that apply):
A. The constructive receipt doctrine does not apply to income the taxpayer is not yet entitled to receive.
B. The purpose of the constructive receipt doctrine is to prevent a cash basis taxpayer from deferring the recognition of income that, although not yet received, has been made practically available to the taxpayer.
OC. The taxpayer's actual receipt is not subject to substantial limitations or restrictions.
D. The amount is made readily available to the taxpayer.
E. None of these are true.
Transcribed Image Text:Which of the following statements about a nonacquiescence is correct?
A. None of these are correct
B. A nonacquiescence in published in the Internal Revenue Bulletin.
OC. A nonacquiescence is issued in the Federal Registrar.
O D. All of these are correct
E. The IRS does not issue nonacquiescences to adverse decisions that are not appealed.
F. Nonacquiescences are published only for certain regular decisions of the U.S. Tax Court.
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