For the this homework we will consider the scope of the compensation inclusion under 61 Study guides, Class notes & Summaries

Rule of Law: For the this Homework, we will consider the scope of the compensation inclusion under § 61(a)(1). All compensation for services rendered must be included in gross income under § 61(a)(1) unless an express statutory exclusion applies. Though there were a few common law doctrines that developed in the early days of the income tax, which allowed some forms of compensation paid in kind to escape taxation (such as the convenience-of-the-employer doctrine that was eventually codified i...

Rule of Law: For the this Homework, we will consider the scope of the compensation inclusion under § 61(a)(1). All compensation for services rendered must be included in gross income under § 61(a)(1) unless an express statutory exclusion applies. Though there were a few common law doctrines that developed in the early days of the income tax, which allowed some forms of compensation paid in kind to escape taxation (such as the convenience-of-the-employer doctrine that was eventually codified i...