Legal Opinion

Loyola Federal Savings & Loan Ass'n v. United States

District Court, D. Maryland

Decided March 20, 1975No. Civ. No. 70-773-HPublishedCited by 1 opinion

1Opinion of the Court

ALEXANDER HARVEY, II, District Judge:

Loyola Federal Savings and Loan Association (Loyola Federal) is here seeking to recover income taxes and interest previously paid the District Director of Internal Revenue. Specifically at issue in this case is whether this taxpayer was entitled to make certain deductions in the taxable years' 1963 and 1964 as bad debt reserves.1

As a domestic building and loan association, Loyola Federal was entitled to avail itself of the provisions of § 593 of the Internal Revenue Code, 26 U.S.C. § 593.2 In computing its income taxes for the years 1963 and 1964, Loyola…

2Cases cited14 opinions

Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
Automobile Club of Mich. v. CommissionerSupreme Court of the United States · 1957
Road Materials, Inc. v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Road Materials, Inc.Court of Appeals for the Fourth Circuit · 1969
Jewell Ridge Coal Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1963
First American National Bank of Nashville v. United StatesCourt of Appeals for the First Circuit · 1972

9 more not listed; retrieve them via the Exa API.

3Cited by1 opinion

City of Airway Heights v. DilleyCourt of Appeals of Washington · 1986