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:
“Ah, to build, to build!
That is the noblest art of all the arts.
Painting and sculpture are but images,
Are merely shadows cast by outward things
On stone or canvas, having in themselves
No separate existence. Architecture,
Existing in itself, and not in seeming
A something it is not, surpasses them
As substance shadow.”
—Henry Wadsworth Longfellow (1807–1882)
“Modern women are squeezed between the devil and the deep blue sea, and there are no lifeboats out there in the form of public policies designed to help these women combine their roles as mothers and as workers.”
—Sylvia Ann Hewitt (20th century)