Bingham v. Commissioner
United States Board of Tax Appeals
The petitioner regularly reported his income on the basis of cash received and disbursed. Various companies of which he was an ordinary stockholder declared dividends payable either on December 30 or 31, 1922, and mailed dividend checks to him on those days.
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The petitioner regularly reported his income on the basis of cash received and disbursed. Various companies of which he was an ordinary stockholder declared dividends payable either on December 30 or 31, 1922, and mailed dividend checks to him on those days. He was unable to receive these checks in the ordinary and usual course of business until 1923 and was not required by the provisions of section 201(e) of the Revenue Act of 1921 to report the amount of the dividends as part of his income for the calendar year 1922.
1Opinion of the Court
*605OPINION.
Murdock.:
The question involved in this appeal is whether the petitioner, making his return on the cash receipts and disbursements basis, should report in 1923, as taxable income for that year, the sum of $62,524.01, representing dividend checks mailed to him in December, 1922, and payable in 1922, but not physically received by him until 1923.
The petitioner contends that the amount in question is income for 1923, since that is the year in which he received it, and since he kept his books on the cash receipts and disbursements basis.
The respondent has taken the position that the amount…
2Cases cited2 opinions
- Richter & Co. v. LightSupreme Court of Connecticut · 1922
- Hyams v. Old Dominion Copper Mining & Smelting Co.New Jersey Court of Chancery · 1913
3Cited by3 opinions
- Bingham v. CommissionerUnited States Board of Tax Appeals · 1927
- Braxton v. CommissionerUnited States Board of Tax Appeals · 1931
- Bush Bros. & Co. v. CommissionerUnited States Tax Court · 1979