Tax Law is Not Determined by Common Industry Term

Published Categorized as Articles, Houston, Tax

Just because businesses in a particular industry commonly use a term to describe a particular transaction or event, the industry term does not necessarily have any bearing on the Federal income tax consequences of the transaction or event. The court addresses this in Greenteam Materials Recovery Facility PN v. Commissioner, T.C. Memo. 2017-122, in the […]

The post Tax Law is Not Determined by Common Industry Term appeared first on Houston Tax Attorneys: Kreig Mitchell.

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