Hogg's Oyster Company, Inc. v. United States

SPROUSE, Circuit Judge:

The United States appeals from the judgment of the district court refunding $14,361.61 of taxes on accumulated earnings, and interest thereon, to Hogg’s Oyster Company, Inc. (Taxpayer). The government contends that the district court erroneously instructed the jury regarding proof of the necessary specificity, definiteness and feasibility of a plan for future expenditures which would justify a nontaxable accumulation of earnings and profits for reasonably anticipated future needs. Although we disapprove of parts of the instructions, we affirm, since the instructions as…