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The Income Tax And Accounting Records For Illegal Businesses, Thomas J. Whiting
The Income Tax And Accounting Records For Illegal Businesses, Thomas J. Whiting
Cleveland State Law Review
The activities of gamblers and other illegal operators have received considerable public notice recently as a result of the Kefauver Committee's investigations. Although the amounts of money involved in these operations are astronomical, no complete records are maintained by these individuals. Amounts entered on income tax returns of this type are completely incapable of verification in the usual method because of the incompleteness of the records and data available. Admittedly these operators are in the unenviable position of being required to keep complete records for income tax purposes, but being afraid to do so because of their evidentiary value to …
Some Notes On Comparing Tax Accounting And General Accounting, Arthur R. Cerio
Some Notes On Comparing Tax Accounting And General Accounting, Arthur R. Cerio
Cleveland State Law Review
Many problems of taxation are caused by the differences between tax accounting principles and generally accepted accounting principles. Despite years of extensive litigation, the question of the timing of income or deductions is difficult to determine. Usually no additional revenue is realized by these conflicts in principles; they merely cause a shift of revenue between the years.