Legal Opinion
G. Douglas Burck and Marjorie W. Burck v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided March 4, 1976No. 452, Docket 75-4163PublishedCited by 83 opinions
1Opinion of the Court
OAKES, Circuit Judge:
This case arises out of the ever-present potential for arbitrariness and evasiveness which is inherent in the cash-basis method of income tax accounting. The specific feature of this general problem brought for review here concerns the deductibility of a year-end transfer of over $300,000 from a taxpayer 1 to his bank, purportedly made as a prepayment of one year’s interest expense accruing on an outstanding loan over the course of the next tax year. The United States Tax Court, William M. Fay, Judge, held that the prepayment was an interest expense in the year the…
2Cases cited17 opinions
- Lucas v. American Code Co.Supreme Court of the United States · 1930
- Dixon v. United StatesSupreme Court of the United States · 1965
- Kapel Goldstein and Tillie Goldstein v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1966
- Eli D. Goodstein v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Eli D. GoodsteinCourt of Appeals for the First Circuit · 1959
- Sandor v. CommissionerUnited States Tax Court · 1974
12 more not listed; retrieve them via the Exa API.
3Cited by83 opinions
- Baird v. CommissionerUnited States Tax Court · 1977
- Bernard Resnik and Beverly Resnik v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Seventh Circuit · 1977
- Prabel v. CommissionerUnited States Tax Court · 1988
- Resnik v. CommissionerUnited States Tax Court · 1976
- Beck v. Comm'rUnited States Tax Court · 1980
78 more not listed; retrieve them via the Exa API.