assignment of income


assignment of income
A procedure whereby a taxpayer attempts to avoid the recognition of income by assigning the property that generates the income to another. Such a procedure will not avoid the recognition of income by the taxpayer making the assignment if it can be said that the income was earned at the point of the transfer. In this case, usually referred to as an anticipatory assignment of income, the income will be taxed to the person who earns it

Black's law dictionary. . 1990.

Look at other dictionaries:

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  • Commissioner v. Banks — Supreme Court of the United States Argued November 1, 2004 Decided January 24 …   Wikipedia


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