George v. Commissioner
United States Board of Tax Appeals
BONUSES AND COMMISSIONS - TAXABLE IN YEAR WHEN ACCRUED, WHERE PETITIONER KEPT HIS BOOKS ON THE ACCRUAL BASIS. Where petitioner was employed on a salary plus a percentage of the profits as bonus and commissions and kept his accounts on an accrual basis and for a good many years rendered his income, including such bonuses and commissions, for taxation on an accrual basis, it was error for him to change his method of reporting income for taxation to the cash receipts and…
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BONUSES AND COMMISSIONS - TAXABLE IN YEAR WHEN ACCRUED, WHERE PETITIONER KEPT HIS BOOKS ON THE ACCRUAL BASIS. Where petitioner was employed on a salary plus a percentage of the profits as bonus and commissions and kept his accounts on an accrual basis and for a good many years rendered his income, including such bonuses and commissions, for taxation on an accrual basis, it was error for him to change his method of reporting income for taxation to the cash receipts and disbursements basis without first obtaining permission from the Commissioner of Internal Revenue to make such change.
1Opinion of the Court
JEROME R. GEORGE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
George v. Commissioner
Docket No. 45240.
United States Board of Tax Appeals
27 B.T.A. 765; 1933 BTA LEXIS 1309;
February 20, 1933, Promulgated
BONUSES AND COMMISSIONS - TAXABLE IN YEAR WHEN ACCRUED, WHERE PETITIONER KEPT HIS BOOKS ON THE ACCRUAL BASIS. Where petitioner was employed on a salary plus a percentage of the profits as bonus and commissions and kept his accounts on an accrual basis and for a good many years rendered his income, including such bonuses and commissions, for taxation on an accrual basis, it was…
2Cases cited1 opinion
- George v. CommissionerUnited States Board of Tax Appeals · 1933