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- Title
JUST ENOUGH: SUBSTANTIAL PERFORMANCE, MINISTERIAL ACTS AND THE ALL EVENTS TESTS FOR INCOME AND EXPENSE ACCRUALS.
- Authors
Walberg, Glenn
- Abstract
The article examines the significant role of substantial performance under the all events tests for accruing income and expense items in the sections 451 and 461 of the tax law in the U.S. Particular emphasis is given to the application of this role to the country's ministerial acts, along with the conditions set by courts to preserve the promises included in bilateral contracts. Moreover, it also discusses the need to consider substantial performance in using the all events tests.
- Subjects
UNITED States; TAXATION; ACCRUAL basis accounting; CONTRACTS; PROMISE (Law); OBLIGATIONS (Law)
- Publication
Florida Tax Review, 2010, Vol 10, Issue 6/7, p459
- ISSN
1066-3487
- Publication type
Article