PUBLIC-POLICY LIMITATION

glossary /

PUBLIC-POLICY LIMITATION

public-policy limitation. Tax. A judicially developed principle that a person should not be allowed to deduct expenses related to an activity that is contrary to the public welfare. ? This principle is reflected in the Internal Revenue Code’s specific disallowance provisions (such as for kickbacks and bribes). [Cases: Internal Revenue 3368. C.J.S. Internal Revenue ¡ì 188.]
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