Legal Opinion
Nash v. United States
Supreme Court of the United States
Decided May 18, 1970No. 678PublishedCited by 68 opinions
1Opinion of the CourtJustice Douglas
Petitioners were partners operating eight finance offices in Alabama. The partnership reported its income on the accrual method of accounting and instead of deducting bad debts within the taxable year as permitted by § 166 (a) of the Internal Revenue Code of 1954 it used the reserve method of accounting as permitted by § 166 (c). Under the reserve method of accounting a taxpayer includes in his income the full face amount of a receivable on its creation and adjusts at the end of each taxable year the reserve account so that it equals that portion of current accounts receivable that is…
2Cases cited2 opinions
- Geyer, Cornell & Newell, Inc. v. CommissionerUnited States Tax Court · 1946
- Estate of Heinz Schmidt, Deceased, and Charlotte Schmidt v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1966
3Cited by68 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Hillsboro National Bank v. CommissionerSupreme Court of the United States · 1983
- Fred E. Hudspeth v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1990
- Eli Lilly & Company and Subsidiaries, Cross-Appellees v. Commissioner of Internal Revenue, Cross-AppellantCourt of Appeals for the Seventh Circuit · 1988
- Estate of Delman v. CommissionerUnited States Tax Court · 1979
63 more not listed; retrieve them via the Exa API.