Legal Opinion
The L. B. Foster Company v. United States
Court of Appeals for the Third Circuit
Decided September 30, 1957No. 12187_1PublishedCited by 1 opinion
1Opinion of the Court
KALODNER, Circuit Judge.
Is a payment in compromise settlement of the federal estate tax deductible as an “ordinary and necessary expense” under Sec. 23(a) (1) (A) of the Internal Revenue Code of 19397 1
That issue is presented by this appeal from the judgment of the District Court for the Western District of Pennsylvania in favor of the defendant.
The undisputed facts may be summarized as follows:
The L. B. Foster Company (“taxpayer”) is a corporation organized under the laws of Pennsylvania. Its business is buying, selling, renting and dealing in rails and other railroad equipment, steel…
2Cases cited8 opinions
- Beck v. CommissionerUnited States Tax Court · 1950
- Commissioner of Internal Revenue v. Pacific MillsCourt of Appeals for the First Circuit · 1953
- C. Ludwig Baumann & Co. v. Marcelle, Collector of Internal RevenueCourt of Appeals for the Second Circuit · 1953
- Commissioner of Internal Revenue v. Valentine E. MacY Jr., Commissioner of Internal Revenue v. J. Noel MacY and Elena Kohler MacYCourt of Appeals for the Second Circuit · 1954
- Rippey v. CommissionerUnited States Tax Court · 1956
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- WILHELM v. COMMISSIONERUnited States Tax Court · 1978