Legal Opinion
Joseph P. Glimco and Lena Glimco v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided December 9, 1968No. 16469_1PublishedCited by 24 opinions
1Opinion of the Court
CUMMINGS, Circuit Judge.
In the Tax Court, Joseph P. Glimco (“Taxpayer”) filed a petition for a redetermination of deficiencies asserted by the Commissioner of Internal Revenue for the taxable years 1954 through 1957. 1 On the three issues involved here, the Tax Court decided in favor of the Commissioner. Those issues are (1) do the legal fees and expenses, totaling approximately $125,000, paid by Teamsters Local 777 to defendant Taxpayer in a Hobbs Act prosecution, constitute income to Taxpayer or are they deductible as ordinary and necessary business expenses; (2) whether his cost basis for…
2Cases cited14 opinions
- Wichita Term. El. Co. v. Commissioner of Int. R.Court of Appeals for the Tenth Circuit · 1947
- United States v. GilmoreSupreme Court of the United States · 1963
- Commissioner v. TellierSupreme Court of the United States · 1966
- United States v. International Building Co.Supreme Court of the United States · 1953
- Shaw v. CommissionerUnited States Tax Court · 1956
9 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- Peter Vaira and Mary L. Vaira v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1971
- O'Malley v. CommissionerUnited States Tax Court · 1988
- Anthony J. Accardo and Clarice Accardo v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1991
- Richard E. Busch Jr. & Jean N. Busch v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1984
- Michael v. Frierdich and Connie J. Frierdich v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1991
19 more not listed; retrieve them via the Exa API.