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| Daniel Halperin | Alvin C. Warren
Understanding Income Tax Deferral. Daniel I. Halperin, Alvin C. Warren, January 8, 2014, Paper. "The goal of this brief note is to clarify the role of deferral in income taxation by introducing a distinction between pure deferral and counterparty deferral. Pure deferral (such as a current deduction for a capital expenditure) is equivalent to an interest-free loan from the government and, under certain assumptions, to a tax exemption for…