Walliser v. Commissioner
United States Tax Court
Petitioner, a bank officer responsible for marketing loans, participated in vacation tours attended primarily by builders because social relationships with builders established on the tours generated loan business which helped petitioner meet his assigned loan production quotas and obtain increases in his salary. Held, expenditures for petitioner's vacation tours were ordinary and necessary business expenses.
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Petitioner, a bank officer responsible for marketing loans, participated in vacation tours attended primarily by builders because social relationships with builders established on the tours generated loan business which helped petitioner meet his assigned loan production quotas and obtain increases in his salary. Held, expenditures for petitioner's vacation tours were ordinary and necessary business expenses. Sec. 162(a)(2), I.R.C. 1954. Held, further, vacation tours constituted an "entertainment, amusement, or recreation" activity for purposes of sec. 274(a), I.R.C. 1954, and were subject to…
1Opinion of the Court
James B. Walliser and Carol Sue Walliser, Petitioners v. Commissioner of Internal Revenue, Respondent
Walliser v. Commissioner
Docket No. 2368-77
United States Tax Court
72 T.C. 433; 1979 U.S. Tax Ct. LEXIS 106;
June 7, 1979, Filed
Decision will be entered for the respondent.
Petitioner, a bank officer responsible for marketing loans, participated in vacation tours attended primarily by builders because social relationships with builders established on the tours generated loan business which helped petitioner meet his assigned loan production quotas and obtain increases in his salary. Held,…
2Cases cited12 opinions
- Commissioner v. HeiningerSupreme Court of the United States · 1943
- Stolk v. CommissionerUnited States Tax Court · 1963
- Walliser v. CommissionerUnited States Tax Court · 1979
- Henry v. CommissionerUnited States Tax Court · 1961
- Marvin A. Heidt and Beatrice Heidt v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1959
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