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Individual Tax Return
Instructions for Form 1040
Request for Taxpayer Identification Number (TIN) and Certification
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Employee's Withholding Allowance Certificate
Employer's Quarterly Federal Tax Return
Employers engaged in a trade or business who pay compensation
Installment Agreement Request

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ITG FAQ #10 Answer-What is the Economic Benefit Doctrine?

Generally, a cash basis taxpayer does not recognize income upon the receipt of property in the form of a promise to pay in the future. However, a cash basis taxpayer is taxed when the taxpayer receives an "economic benefit" from a right to receive property in the future. (Sproull v. Commissioner, 16 T.C. 244 (1951)) The economic benefit doctrine has also been applied to require inclusion in income of prize winnings when they are irrevocably placed in a fund to be paid to the winner at a later date. (Pulsifer v. Commissioner, 64 T.C. 245 (1975))

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