Leuthesser v. Commissioner
United States Tax Court
1. Respondent's determination as to reasonableness of officers' salaries approved. Section 23(a), I. R. C. 2. Where taxpayer receives a refund by reason of a carry-back pursuant to section 3780, I. R. C., the period of limitations for assessment of deficiencies with respect to the earlier year is not enlarged by section 3780(c) or section 276(d), I. R. C., except to the extent that the deficiency is based upon an error "attributable to the carry-back."
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1. Respondent's determination as to reasonableness of officers' salaries approved. Section 23(a), I. R. C. 2. Where taxpayer receives a refund by reason of a carry-back pursuant to section 3780, I. R. C., the period of limitations for assessment of deficiencies with respect to the earlier year is not enlarged by section 3780(c) or section 276(d), I. R. C., except to the extent that the deficiency is based upon an error "attributable to the carry-back." Only a small part of the deficiencies determined was attributable to the carry-back, but as to that part respondent has failed to meet his…
1Opinion of the Court
OPINION.
Kaum, Judge:
In view of petitioners’ concession of their liability for the 1945 taxes of National Metal Products Corporation, there remains only the question of their liability with respect to 1944. The taxes involved were assessed against National, on February 13, 1948. Since the Government has failed to collect these taxes, respondent is now proceeding against petitioners, who were officers, directors, and owners of substantially all of the stock of National. He at first determined the deficiencies against them as transferees, but by amended answer, he now seeks to hold them…
2Cases cited1 opinion
- McCourt v. CommissionerUnited States Tax Court · 1950
3Cited by47 opinions
- LTV Corp. v. CommissionerUnited States Tax Court · 1975
- Polachek v. CommissionerUnited States Tax Court · 1954
- Pesch v. CommissionerUnited States Tax Court · 1982
- Phoenix Coal Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1956
- Neri v. CommissionerUnited States Tax Court · 1970
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