constructive receipt of income

Definition of "constructive receipt of income"
  1. Income that isn't physically obtained but is regarded as obtained for tax purposes because it can be accessed by the recipient
How to use "constructive receipt of income" in a sentence
  1. Despite not depositing the check, the company had a constructive receipt of income.
  2. Her bonus was delayed, but it was still a case of constructive receipt of income as it was already accessible to her.
  3. The interest on his savings was counted as constructive receipt of income even though he hadn't withdrawn it.
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