tax benefit rule

tax-benefit rule. The principle that if a taxpayer recovers a loss or expense that was deducted in a previous year, the recovery must be included in the current year’s gross income to the extent that it was previously deducted. — Also termed tax-benefit doctrine. [Cases: Internal Revenue 3089, 3138. C.J.S. Internal Revenue § 78.]

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词条贡献者

译员Joanne，亚洲顶尖法学院国际贸易专业，擅长翻译涉及媒体、体育和娱乐领域的法律文件。