Deferred Payment Sales
Calvin H. Johnson
University of Texas at Austin - School of Law
July 14, 2008
The Shelf Project
Tax Notes, Vol. 120, p. 157, July 14, 2008
This proposal would treat cash received after the year of a deferred payment sale as ordinary income. Cash received would also be treated like boot, that is, as gain first.
The proposal is made as a part of the Shelf Project, a collaboration by tax professionals to develop and perfect proposals to help Congress when it needs to raise revenue. Shelf Project proposals are intended to raise revenue, defend the tax base, follow the money, and improve the rationality and efficiency of the tax system. The tax community can propose, follow, or edit proposals at http://www.taxshelf.org. A longer description of the Shelf Project is found at ‘‘The Shelf Project: Revenue-Raising Projects That Defend the Tax Base,’’ Tax Notes, Dec. 10, 2007, p. 1077, Doc 2007-
22632, or 2007 TNT 238-37.
Shelf Project proposals follow the format of a congressional tax committee report in explaining current law, what is wrong with it, and how to fix it.
Copyright 2008 Calvin H. Johnson.
Number of Pages in PDF File: 7
Keywords: tax reform,deferred payment sale
JEL Classification: H20Accepted Paper Series
Date posted: December 9, 2009
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