Tennessee Federal Court Focuses On When Payment Occurs

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-18T20:28:14.000
dc.date.accessioned 2020-06-29T22:52:10Z
dc.date.available 2020-06-29T22:52:10Z
dc.date.embargo 2017-08-14
dc.date.issued 1999-05-14
dc.description.abstract <p>A decision by the United States District Court for the Western District of Tennessee on February 23, 1999, has drawn attention once again to the question of when payment occurs for taxpayers on the cash method of accounting. The latest case, Owen v. United States, involved improvements to office condominiums which were paid by promissory note. The District Court held that payment had not yet occurred for the taxpayer (who was on the cash method of accounting) so the improvements did not add to the property’s income tax basis for purposes of figuring gain on sale. The case has important potential implications for farmers.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol10/iss10/1/
dc.identifier.articleid 1486
dc.identifier.contextkey 10597647
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol10/iss10/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/2916
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol10/iss10/1/AgLawDigest_v10n10_01.pdf|||Fri Jan 14 17:46:49 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Tennessee Federal Court Focuses On When Payment Occurs
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 61d2f317-a026-454a-b7ba-3a63b8a56c66
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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