Name tags don't appear through liquids

I have noticed that you can't see nametags of any kind when you are on water or on lava.

Steps to Reproduce:

1. Join a world with another player
2. Get them to stand near you out of any liquid (water or lava) and start sneaking and unsneaking
3. Have your eye level inside a liquid and try to look at them

Observed Results:
You cannot see their nametag regardless of whether they are sneaking or not.

Expected Results:
You should be able to see their nametag.