$.$ Define the term constructive receipt. Explain its

importance.b$.$ Explain three restrictions on the concept of constructive

receipt.a$.$ Define the term constructive receipt. Explain its

importance.A$.$Under the concept of constructive$$ receipt, income is taxed when

it is received by the taxpayer. The taxpayer can transfer the

income to another person to avoid paying taxes.B$.$Under the concept of constructive$$ receipt, income is taxed once

earned but not received by the$$ cash$-$basis taxpayer. The taxpayer

cannot defer the tax by refusing to accept payment.C$.$Under the concept of constructive$$ receipt, income is taxed when

it becomes available to the taxpayer. The taxpayer cannot defer the

tax by refusing to accept payment.D$.$Under the concept of constructive$$ receipt, income is taxed once

earned and received by the$$ cash$-$basis taxpayer. The taxpayer can

defer the tax by refusing to accept payment.b$.$ Explain three restrictions on the concept of constructive

receipt.Income is not constructively received if:$1.2.3.$

b$.$ Explain three restrictions on the concept of constructive receipt.

a check is received after banking hours.

an employee's salary is available, but the employee does not accept payment.

interest is credited to a bank savings account.

the amount is unavailable to the taxpayer.

ayer.

the payor does not have the funds necessary to make payment.

the receipt is subject to substantial limitations or restrictions.