About this document
Faris v. Commissioner Tax Case Review by Scribd Government Docs is a document available to read on EtoBox.
The document is a court order regarding whether a $114,000 payment received by Joe Faris as part of a land transaction was taxable income or proceeds from a loan. The tax court had ruled the payment was from loan proceeds, but the appellate court reversed, finding the payment was a commission based on the clear language of the original agreement, so it represented taxable income. The appellate court ruled Faris could not argue the substance of the transaction differed from the form in the agreement.
- Author
- Scribd Government Docs
- Language
- EN