Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Internal Revenue Code (2)
- Administrative Procedures Act (1)
- Agency (1)
- Assessed deficiency (1)
- Bank deposit (1)
-
- Bank transfer (1)
- Business purpose requirement (1)
- Cash method (1)
- Charity (1)
- Commissioner v. Duberstein (1)
- Constructive receipt (1)
- Corporate Separation (1)
- Corporate earning (1)
- Corporate separation (1)
- Deduction (1)
- Distraint power (1)
- Double taxation (1)
- Executive order (1)
- Five-year-active-business rule (1)
- Flora v. United States (1)
- Full tax payment (1)
- Gift (1)
- Gregory v. Helvering (1)
- Implied immunity (1)
- Legal incidence test (1)
- Merger (1)
- Partial payment (1)
- Payment contract (1)
- Penalty (1)
- Profit-sharing plan (1)
Articles 1 - 9 of 9
Full-Text Articles in Law
Taxation-Federal Income Tax-Strike Benefits May Be Gifts, Christopher Cobb
Taxation-Federal Income Tax-Strike Benefits May Be Gifts, Christopher Cobb
Michigan Law Review
Taxpayer received assistance from a labor union while he was participating in a strike called by the union. The area in which he lived had become a distressed area as a consequence of the strike, and the union had established a general program of aid for strikers with no other source of income. Both before and after he joined the union payments were made to taxpayer under this program. Taxpayer sued for a refund of the income tax he payed on the value of the assistance so received, and the jury returned a verdict in his favor, finding the payments …
Taxation - Federal Income Tax- Full Payment A Prerequisite To Refund Suit, Stuart S. Gunckel
Taxation - Federal Income Tax- Full Payment A Prerequisite To Refund Suit, Stuart S. Gunckel
Michigan Law Review
A tax deficiency of $28,908.60 including interest was levied by the Commissioner of Internal Revenue against the petitioner for a single tax year. Petitioner paid $5,058.54 but later filed a claim for refund which was disallowed by the Commissioner. On suit by petitioner in a United States district court for the refund, the court held the petitioner was not entitled to the refund because the claimed losses were actually capital in nature. The Court of Appeals for the Tenth Circuit reversed and dismissed the complaint on the ground that the district court could not have jurisdiction until there had been …
Constitutional Law - Governmental Immunity - Immunity Of Agent Of Federal Government To State Taxation, Robert M. Steed S.Ed.
Constitutional Law - Governmental Immunity - Immunity Of Agent Of Federal Government To State Taxation, Robert M. Steed S.Ed.
Michigan Law Review
E. I. du Pont de Nemours and Company contracted with the Atomic Energy Commission to construct and operate the Savannah River Project for development of the hydrogen bomb for a fee of one dollar. Under the contract du Pont was to purchase all materials and supplies with funds furnished by the United States, title to vest in the government immediately when it passed from the vendor. South Carolina attempted to apply its sales and use taxes to these purchases. In an action by the United States and du Pont before a statutory three-judge district court to enjoin collection of these …
Taxation - Federal Income Tax - Section 355 Held Applicable To The Division Of A Single Business, James N. Adler
Taxation - Federal Income Tax - Section 355 Held Applicable To The Division Of A Single Business, James N. Adler
Michigan Law Review
Petitioner, E. P. Coady, and M. Christopher each owned 50 percent of the stock of the Christopher Construction Co., a corporation engaged for more than five years prior to November 15, 1954, in the conduct of a construction business. On that day the parent, Christopher Company, organized a subsidiary, E. P. Coady & Co., to which it transferred approximately one half of its contracts, equipment, and cash. In exchange, the parent company received all the stock of the subsidiary. Immediately thereafter, the parent distributed to petitioner, one of the two equal shareholders of the parent company, all the stock of …
Administrative Law - Administrative Procedure Act- Status Of Tax Court, James Cripe
Administrative Law - Administrative Procedure Act- Status Of Tax Court, James Cripe
Michigan Law Review
Petitioner instituted this action before the Tax Court for a review of rulings by the Commissioner of Internal Revenue determining deficiencies in the payment of his income taxes. The Tax Court held that it was not subject to the Administrative Procedure Act and had no means whatever of bringing before it the entire record, so called, that was before the Commissioner. On appeal, held, affirmed. Judicial review of the "whole record" mentioned in section 10 (e) of the Administrative Procedure Act envisages, in the case of adjudication, a review of the record made in cases governed by sections 5, …
Taxation- Federal Income Tax - Deductible Contributions To Nonqualified Profit-Sharing Plans, Robert M. Steed
Taxation- Federal Income Tax - Deductible Contributions To Nonqualified Profit-Sharing Plans, Robert M. Steed
Michigan Law Review
In 1942 plaintiff employer adopted a profit-sharing plan under which a percentage of each year's profits was to be deposited in irrevocable trusts for distribution to its employees in succeeding years. The plan was not "qualified" under the Internal Revenue Code. Although under the terms of the trusts each employee's rights in the fund vested at the time the contribution was made by the employer, these rights would be forfeited by voluntary resignation prior to a fixed date. In 1945 plaintiff deducted the amount contributed to the trust in that year as a contribution to a non-qualified profit-sharing plan under …
Business Purpose And The Subchapter S Inspired Reorganization, Eugene C. Roemele
Business Purpose And The Subchapter S Inspired Reorganization, Eugene C. Roemele
Michigan Law Review
The potentially advantageous treatment under subchapter S permitting certain corporations to elect to pass through corporate income and losses to the shareholder, and to avoid the corporate tax, is the result of two different pressures. Tax collector and taxpayer have long been at odds over the purported double taxation of corporate earnings. The limited disregard of the corporate entity as a taxpaying entity then becomes another phase in the cycle begun in 1936, when dividends were subjected to full taxation at the shareholder level. The more recent concern for small business and the small business man has resulted in the …
Taxation - Federal Estate Tax - Effect Of Presidential Freezing Orders On The Creation Of Excludable Bank Deposits For Nonresident Aliens, William Y. Webb
Taxation - Federal Estate Tax - Effect Of Presidential Freezing Orders On The Creation Of Excludable Bank Deposits For Nonresident Aliens, William Y. Webb
Michigan Law Review
Decedent, a citizen and resident of France, was the sole income beneficiary of a trust fund held in New York by the plaintiff as trustee. An executive order, issued pursuant to the Trading with the Enemy Act, prohibited remittance of trust income to the decedent from 1940 to the time of her death in 1946. As this income accrued, the plaintiff's trust department transferred it to the plaintiff's general banking department in its own name as trustee and subject to its order out of current banking funds. In an action by the executor of the decedent-beneficiary's estate to recover an …
Taxation - Federal Income Tax - Contract Right Income To Cash Method Taxpayer Who Refused Cash Offer, Eldon Olson
Taxation - Federal Income Tax - Contract Right Income To Cash Method Taxpayer Who Refused Cash Offer, Eldon Olson
Michigan Law Review
During 1951 petitioner, a cash method taxpayer, executed a mineral lease. As part of the consideration petitioner was to receive an unconditional bonus or advance royalty of fixed amount. The lessee was ready, able and willing to pay the entire amount on execution, but at petitioner's request the contract provided for a small payment on execution with one-half the balance due on January 5th of each of the next two years. About one month before each due date the contract rights were discounted at a bank of which petitioner was a director. The lessee remained ready, able and willing to …