Wilcox v. Henricksen

YANKWICH, District Judge.

The plaintiff brought this action to recover the sum of $3,867.72, paid on an assessment for income taxes claimed to be due for the taxable year 1933.

He filed a return for that year, in which he showed a tax in the sum of $0.29, which he paid. The Collector of the District levied an additional assessment of $3,225.94, together with interest in the sum of $741.78.

In making the assessment, the Collector disallowed a loss of $75, claimed for a bad debt, upon the ground that the loss had not been ascertained during the taxable year.

He also found a profit of $23,924.32 on…