This article comments on “Is a Broadly Based Mark-to-Market Tax Unconstitutional,” by Gene Magidenko. Magidenko gets all the big points right in questioning the constitutionality of a mark-to-market system of taxation, but this article suggests he did not emphasize one point enough: the...

The Timing of Income Recognition in Tax Law and the Time Value of Money, by Israeli lawyer and academic Moshe Shekel, is a comprehensive, comparative study of the timing rules for income and deductions (and the debates about those timing rules) in three sophisticated jurisdictions - the United...