Five Things Economists and Lawyers Can Learn From Accountants: An Illustration Using the Domestic Production Activities Deduction

Lillian Mills

National Tax Journal, 2006, vol. 59, issue 3, 585-97

Abstract: This paper is part of the perspectives of three researchers—an economist, an accountant and a lawyer—on tax policy. The domestic production activities deduction in AJCA 2004 provides a specific platform to introduce five concepts from financial accounting that affect tax policy: book income matters; tax rate changes immediately affect earnings; current tax expense does not generally equal taxes paid; accounting mixes different methods and permits management judgment; and consolidation rules differ for book and tax, complicating jurisdictional inferences.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:59:y:2006:i:3:p:585-97

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