step transaction doctrine

step-transaction doctrine. A method used by the Internal Revenue Service to determine tax liability by viewing the transaction as a whole, and disregarding one or more nonsubstantive, intervening transactions taken to achieve the final result. — Also termed step-transaction approach. [Cases: Internal Revenue 3071. C.J.S. Internal Revenue §§ 13–14.]

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词条贡献者

译员蓉婧，欧洲知名商学院国际金融专业，专注翻译各种与美国证券法律有关的法律文件。