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Taft v. Bowers: The Foundation for Non-Recognition Provisions in the Income Tax

6 Pages Posted: 8 Mar 2017  

James R. Repetti

Boston College - Law School

Date Written: March 7, 2017

Abstract

Taft v. Bowers is a Supreme Court decision that is rarely studied in law schools or discussed by scholars. Yet, it is a case of vast significance. In the Taft decision, the Supreme Court confirmed that Congress may create non-recognition exceptions to the income tax that merely defer the recognition of income, rather than permanently exclude it. If the Taft case had been decided differently, it is likely that the number of non-recognition provisions in the Internal Revenue Code ("Code") would be significantly reduced.

Suggested Citation

Repetti, James R., Taft v. Bowers: The Foundation for Non-Recognition Provisions in the Income Tax (March 7, 2017). ACTEC Law Journal, Vol. 42, No. 1, 2017; Boston College Law School Legal Studies Research Paper No. 437. Available at SSRN: https://ssrn.com/abstract=2929014

James Repetti (Contact Author)

Boston College - Law School ( email )

885 Centre Street
Newton, MA 02459-1163
United States
617-552-8550 (Phone)
617-552-2615 (Fax)

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