- Taxpayers so related by blood, business, corporate, trust, or fiduciary connections, as such are prescribed specifically by statute, that one of them, as an accrual basis taxpayer, is not entitled to take a deduction from earnings for items of expense due the other as a cash basis taxpayer. Internal Revenue Code § 267 (a) (2).
Ballentine's law dictionary. Anderson, W.S.. 1998.
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