cohan rule

Cohan rule (koh-han).Tax. A former rule that a taxpayer may approximate travel and entertainment expenses when no records exist if the taxpayer has taken all possible steps to provide documentation. • Since 1962, travel and entertainment expenses have been only partly deductible and must be carefully documented, but courts may apply the Cohan reasoning to other items. Cohan v. Commissioner, 39 F.2d 540 (2d Cir. 1930). [Cases: Internal Revenue 3377, 4536. C.J.S. Internal Revenue §§ 647, 671, 673, 799.]

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词条贡献者

资深译员Lisa，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与私募股权与投资基金有关的法律文件。