Substance Over Form
The doctrine of substance over form is essentially that, for Federal tax purposes, a taxpayer is bound by the economic substance of a transaction where the economic substance varies from its legal form.
Read more about this topic: Gregory V. Helvering
Famous quotes containing the words substance and/or form:
“What makes literature interesting is that it does not survive its translation. The characters in a novel are made out of the sentences. That’s what their substance is.”
—Jonathan Miller (b. 1936)
“Self-esteem is the real magic wand that can form a child’s future. A child’s self-esteem affects every area of her existence, from friends she chooses, to how well she does academically in school, to what kind of job she gets, to even the person she chooses to marry.”
—Stephanie Martson (20th century)