Galt v. Commissioner
United States Board of Tax Appeals
A taxpayer on the cash receipts and disbursement basis deposited with a brokerage firm the estimated amount of his 1929 real property taxes with instructions to pay his taxes "as soon as the bills can be obtained." The brokerage firm paid the taxes in 1931. Held, that taxpayer is not entitled to a deduction on his 1930 return for taxes so paid in 1931.
1Opinion of the Court
OPINION.
Akundell:
This proceeding is for the redetermination of a deficiency of $5,306.78 in income tax for the calendar year 1930. The sole issue presented is whether petitioner is entitled to a deduction in the amount of $49,290 as “ taxes paid ” during the taxable year.
On account of an irregularity in the assessment rolls for Cook County, Illinois, petitioner was unable to determine the amount of his 1929 real estate taxes or to pay them to the county treasurer during 1930. However, he estimated the amount thereof by taking 60 to 75 percent of his 1928 real estate taxes and arrived at a…
2Cases cited1 opinion
- United States v. MitchellSupreme Court of the United States · 1926
3Cited by6 opinions
- Hradesky v. CommissionerUnited States Tax Court · 1975
- Frank J. Hradesky v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1976
- Lillie v. CommissionerUnited States Tax Court · 1965
- Galt v. CommissionerUnited States Board of Tax Appeals · 1934
- Hradesky v. CommissionerUnited States Tax Court · 1975
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