Akers v. Commissioner
United States Tax Court
Held: 1. Fair market value of wastewater treatment plants was $75,000 when donated to Vanderbilt University; 2. Respondent did not abuse his discretion in requiring Asphalt Products Co., Inc. to change from the cash to the accrual method of accounting; 3. Medical insurance and reimbursement payments made by Asphalt Products Co., Inc. were made pursuant to a plan qualifying under sec. 105, I.R.C. 1954; 4. Payments made for the benefit of James C. Akers, Jr. and Estelle L.…
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Held: 1. Fair market value of wastewater treatment plants was $75,000 when donated to Vanderbilt University; 2. Respondent did not abuse his discretion in requiring Asphalt Products Co., Inc. to change from the cash to the accrual method of accounting; 3. Medical insurance and reimbursement payments made by Asphalt Products Co., Inc. were made pursuant to a plan qualifying under sec. 105, I.R.C. 1954; 4. Payments made for the benefit of James C. Akers, Jr. and Estelle L. Akers are not constructive dividends to J. Clark Akers, III and William B. Akers; 5. Asphalt Products Co., Inc. may deduct…
1Opinion of the Court
J. CLARK AKERS, III AND ELEANOR M. AKERS, ET AL., 1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Akers v. Commissioner
Docket Nos. 6717-77, 6729-77, 6734-78, 6758-78, 6759-78, 5873-80, 5874-80, 5875-80, 5876-80.
United States Tax Court
T.C. Memo 1984-208; 1984 Tax Ct. Memo LEXIS 466; 47 T.C.M. (CCH) 1621; T.C.M. (RIA) 84208;
April 24, 1984.
Held: 1. Fair market value of wastewater treatment plants was $75,000 when donated to Vanderbilt University; 2. Respondent did not abuse his discretion in requiring Asphalt Products Co., Inc. to change from the cash to the accrual method of…
2Cases cited52 opinions
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- Bixby v. CommissionerUnited States Tax Court · 1972
- Thor Power Tool Co. v. CommissionerSupreme Court of the United States · 1979
- Burnet v. LoganSupreme Court of the United States · 1931
- Commissioner v. HansenSupreme Court of the United States · 1959
47 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Estate of English v. CommissionerUnited States Tax Court · 1985
- Clemente, Inc. v. CommissionerUnited States Tax Court · 1985