Document Type
Article
Publication Date
1-1-2010
Abstract
Under current law, all true barter transactions, such as babysitting cooperatives, create taxable income. Although the IRS often fails to catch unreported transactions, lawyers and accountants have an ethical duty to advise clients to report these taxable transactions on their income tax returns. This article proposes that Congress change the law to generally exclude barter transactions from income when they do not rise to the level of being a trade or business of the taxpayer. This simple change to the law will allow communities to work together without worrying about tax disincentives for doing so.
Publication Title
Catholic University Law Review
Volume
59
First Page
785
Recommended Citation
Sergio Pareja,
It Taxes a Village: The Problem with Routinely Taxing Barter Transactions,
59
Catholic University Law Review
785
(2010).
Available at:
https://digitalrepository.unm.edu/law_facultyscholarship/45
