constructive receipt
- It's a concept in tax law where a person is considered to have received income even though the funds haven't been physically received. This happens when the person has the ability to control or use the income
- When funds are deposited into a person's savings account and are readily available for use, this could be considered as constructive receipt.
- Even though the bonus check has not been deposited into her account, because it is available for her to deposit, this might be a case of constructive receipt.
- When the employee was given the option to receive a paycheck at any time, the money became subject to constructive receipt.
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