Irwin v. Commissioner
United States Tax Court
A partnership, which computed its income on the completed contract basis, made certain accruals upon the completion in 1938 of a contract with the Government. The accruals included $ 28,200 which in 1939 the Government refused to pay, and in order to collect the partnership brought suit in the Court of Claims.
Read the full summary
A partnership, which computed its income on the completed contract basis, made certain accruals upon the completion in 1938 of a contract with the Government. The accruals included $ 28,200 which in 1939 the Government refused to pay, and in order to collect the partnership brought suit in the Court of Claims. In 1946 the partnership recovered a net judgment in the amount of $ 12,915.66. To the extent of $ 2,500, the judgment represented the balance due on the contract price which the Government conceded was due. The balance of the recovery represented damages for delays caused by the…
1Opinion of the Court
OPINION.
Bettce, Judge:
The entire controversy turns upon whether the partnership, comprised of two of the petitioners, properly accrued as income in 1938 certain claims against the Government arising out of the partnership’s contract to build a library at Howard University. The library building had been substantially completed in 1938 and the Government had been billed for all but $2,500 of the contract price. At the end of that year the partnership accrued the $2,500 together with $25,700 which it estimated was the amount of its claim for damages as a result of delays in the work which it…
2Cases cited8 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Security Flour Mills Co. v. CommissionerSupreme Court of the United States · 1944
- National Contracting Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1939
- Brand Inv. Co. v. United StatesUnited States Court of Claims · 1944
- Hudson Engineering Corporation v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. HudsonCourt of Appeals for the Fifth Circuit · 1950
3 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Stephens Marine, Inc., Successor in Interest to Stephens Brothers, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1970
- King v. United StatesDistrict Court, E.D. Texas · 1963
- Irwin v. CommissionerUnited States Tax Court · 1955