Legal Opinion
L.O. Ward and Myra Ward v. United States
Court of Appeals for the Tenth Circuit
Decided December 20, 1982No. 81-1849PublishedCited by 3 opinions
1Opinion of the Court
BARRETT, Circuit Judge.
L.O. and Myra Ward (Wards) appeal from a judgment entered in favor of the United States. Wards initiated this action seeking a tax refund. The dispositive facts are not in dispute.
Wards are independent oil and gas producers who have operated as a sole proprietorship since 1964, when L.O. Ward first began oil and gas operations on his own account. At that time, the Wards exercised their one-time option under 26 U.S.C.A. § 263(c) to elect to deduct as a current expense all intangible drilling costs (IDC’s) associated with their drilling programs rather than capitalizing…
2Cases cited13 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Welch v. HenrySupreme Court of the United States · 1938
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3Cited by3 opinions
- Mobley v. United StatesUnited States Court of Claims · 1985
- Robert B. Trainer and Sirin D. Trainer v. The United StatesCourt of Appeals for the Federal Circuit · 1986
- Schroeder v. United StatesDistrict Court, W.D. Oklahoma · 1988