MLchartDataset catalogue

Cohan rule

Term · Law · MLC-T-LAW-001043

A principle in tax law allowing taxpayers to estimate certain deductible expenses when precise records are unavailable. This rule applies when the taxpayer can demonstrate that expenses were incurred, even if exact documentation is missing. The Internal Revenue Service may accept reasonable approximations under this rule.

Table 1. Record
IdentifierMLC-T-LAW-001043
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001043",
  "term": "Cohan rule",
  "field": "Law",
  "definition": "A principle in tax law allowing taxpayers to estimate certain deductible expenses when precise records are unavailable. This rule applies when the taxpayer can demonstrate that expenses were incurred, even if exact documentation is missing. The Internal Revenue Service may accept reasonable approximations under this rule.",
  "url": "https://mlchart.com/terminology/law/cohan-rule/"
}

Record 870 of 5,445 in Law terminology (MLC-0107). Request the full dataset.