Term
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Definition
| Y=FMV of Consumption + Change in FMV of Personal Property |
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Term
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Definition
| "Gross income means all income from whatever source derived" |
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Term
| Examples of income not included |
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Definition
| Imputed income, Below market sales, Leisure |
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Term
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Definition
| An employer's payment of federal income tax on behalf of employee constituted income to the employer |
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Term
| "Benaglia v. Commissioner" |
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Definition
| When living quarters such as camps are furnished to employees for the convenience of the employer, the ratable value need not be added to the cash compensation of the employees, but where a person receives as compensation for services rendered a salary and in addition thereto living quarters, the value to such person of the quarters furnished constitutes income subject to tax; Dissent got it right |
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Term
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Definition
| Meals or Lodging furnished for the convenience of the employer |
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Term
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Definition
| Certain Fringe benefits; No additional cost service: Line of Business-employees must be in employed in the type of business of the benefit it receives |
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Term
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Definition
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Term
| "Commissioner v. Glenshaw Co." |
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Definition
| Taxability of punitive damages; Sup. Ct. def. |
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