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During an accounting class that dealt with tax-deferred exchanges of property and gifts, Wallace wrote to himself: "Need I pay FICA on grants, fellowships?" (Nearby, once again, is the marking, "God help me").
Documents and testimony at the recent federal trial indicate that a subsidiary of one of the nation's largest banks, JPMorgan Chase, stood by for years as the companies — most of which were also major depositors in the bank — bent the rules governing these exchanges of property.
Practically speaking, the Internal Revenue Service is not in the business of measuring everyday exchanges of property between family members.
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"Sale," the voluntary exchange of property for money, is the most common of these.
"It is symbolic of an exchange of property — the father handing over his daughter to her new keeper".
Lawyers got involved, the exchange of property took time, and those involved "became estranged over it," Sergeant Laursen said.
During the first millennium of Christianity, she says, marriage was a secular ceremony involving the exchange of property and the pooling of labor.
It was a civil, correct, exchange of property but a far cry from the warmth and passions - quickly followed by bloodshed - that accompanied Britain's exit from India.
The film shows marriage as evolving from an event centered around the exchange of property in the Middle Ages to one linked to the notion of romantic love in the 19th century.
And that ledger is used to record the exchange of property between two or more parties.
See also Burnett v. Commissioner (taxpayer's argument — that wages represent an equal exchange of property and, therefore, are not taxable income — was rejected).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com