Debunking the Basis Myth Under the Income Tax

75 Pages Posted: 8 Mar 2005

See all articles by Joseph M. Dodge

Joseph M. Dodge

Florida State University - College of Law

Jay A. Soled

Rutgers University

Date Written: March 2005

Abstract

Tax basis is one of the most important, yet least studied, aspects of the income tax. This analysis calls attention to its importance and argues that taxpayers have the motivation, opportunity, and means to inflate the tax basis they have in their assets. We discuss the likely effect of basis overstatements in terms of revenue loss and suggest potential reforms. The institution of these reforms, if adopted, bodes well for rejuvenating the overall health of the income tax system.

Suggested Citation

Dodge, Joseph M. and Soled, Jay, Debunking the Basis Myth Under the Income Tax (March 2005). Available at SSRN: https://ssrn.com/abstract=681578 or http://dx.doi.org/10.2139/ssrn.681578

Joseph M. Dodge (Contact Author)

Florida State University - College of Law ( email )

425 W. Jefferson Street
Tallahassee, FL 32306
United States
850-644-4590 (Phone)

Jay Soled

Rutgers University ( email )

1 Washington Park
Newark, NJ 07901-1825
United States
(973) 353-1727 (Phone)

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