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Congress Can "label a thing income and tax it"


Continuing our series on Famous Tax Quotes (quotes from court opinions with language that is colorful or that concisely states an important tax principle) today's tax quote is:

. . . [A]lthough the "Congress cannot make a thing income which is not so in fact," it can label a thing income and tax it, so long as it acts within its constitutional authority, which includes not only the Sixteenth Amendment but also Articl 1, Sections 8 and 9.

Murphy v. IRS, D. C. Circuit 493 F3d 170 (2007)

Tags: Other - Famous Tax Quotes