Kaw Dehydrating Co. v. Commissioner
United States Tax Court
Petitioner relies upon a corporate resolution providing only that bonuses for two corporate officers were discussed, as supporting its deduction of said bonuses as accrued and constructively received by the officers within the intendment of sec. 267, I.R.C. 1954. Held: No definitive corporate action was taken. Other facts do not support petitioner's contentions for accrual and constructive receipt.
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Petitioner relies upon a corporate resolution providing only that bonuses for two corporate officers were discussed, as supporting its deduction of said bonuses as accrued and constructively received by the officers within the intendment of sec. 267, I.R.C. 1954. Held: No definitive corporate action was taken. Other facts do not support petitioner's contentions for accrual and constructive receipt. The bonuses were not due and owing to the officers within petitioner's taxable year and the period of 2 1/2 months thereafter.
1Opinion of the Court
Kaw Dehydrating Company, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
Kaw Dehydrating Co. v. Commissioner
Docket No. 10334-77
United States Tax Court
74 T.C. 370; 1980 U.S. Tax Ct. LEXIS 133;
May 20, 1980, Filed
Decision will be entered for the respondent.
Petitioner relies upon a corporate resolution providing only that bonuses for two corporate officers were discussed, as supporting its deduction of said bonuses as accrued and constructively received by the officers within the intendment of sec. 267, I.R.C. 1954. Held: No definitive corporate action was taken. Other facts do…
2Cases cited11 opinions
- Avery v. CommissionerSupreme Court of the United States · 1934
- E. J. Benes & Co. v. CommissionerUnited States Tax Court · 1964
- Elmer J. Benes and Frances M. Benes, E. J. Benes & Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1966
- Basila v. CommissionerUnited States Tax Court · 1961
- Young Door Co., Eastern Div. v. CommissionerUnited States Tax Court · 1963
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