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- Title
DEATH OF A LOOPHOLE: RECENT LEGISLATION AND CASE LAW DEALING WITH TAXATION OF INTEREST-FREE AND LOW-INTEREST LOANS.
- Authors
Massin, S. Scott; McGuire, Charles R.
- Abstract
Points out cases emanating from the absence of a clear-cut treatment of gift tax or income tax liability incurred by an interest free or below-market loan before 1984. United States Internal Revenue Service's treatment of such loans as income to the borrower; Tax Court's differentiation of the loans from taxable income.
- Subjects
UNITED States; GIFT tax laws; INCOME tax laws; LOAN laws; LIABILITIES (Accounting)
- Publication
American Business Law Journal, 1986, Vol 24, Issue 1
- ISSN
0002-7766
- Publication type
Article
- DOI
10.1111/j.1744-1714.1986.tb00490.x