50 Essays Vocabulary Words
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2B 1. Would the results to the taxpayers in the Cesarini case be different if, instead of discovering $4,467 in old currency the piano, they discovered that the piano, a Steinway, was the first Steinway piano ever built and it is worth $500,000? Yes; Cesarini articulates the tax consequences of finding a treasure trove: it is taxable in the year in which it is reduced to undisputed possession. Here, the higher than expected value of the item purchase itself does not constitute a treasure trove. ...
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50 Essays Vocabulary Words•50 Essays Vocabulary Words
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AQA GSCE BIOLOGY EXAMS• Byjohnlynn297
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2B 1. Would the results to the taxpayers in the Cesarini case be different if, instead of discovering $4,467 in old currency the piano, they discovered that the piano, a Steinway, was the first Steinway piano ever built and it is worth $500,000? Yes; Cesarini articulates the tax consequences of finding a treasure trove: it is taxable in the year in which it is reduced to undisputed possession. Here, the higher than expected value of the item purchase itself does not constitute a treasure trove. ...