Mayock v. Commissioner
United States Tax Court
In the fall of 1948 petitioner, who served as general counsel to the Democratic National Committee, succeeded in obtaining action on an income tax ruling for William S. Lasdon. During this period, petitioner also devoted his time to raising money and giving assistance to the Democratic Party in the presidential campaign of 1948. Petitioner received $ 65,000 from Lasdon. He retained and reported $ 17,500 of this amount as a fee for professional services.
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In the fall of 1948 petitioner, who served as general counsel to the Democratic National Committee, succeeded in obtaining action on an income tax ruling for William S. Lasdon. During this period, petitioner also devoted his time to raising money and giving assistance to the Democratic Party in the presidential campaign of 1948. Petitioner received $ 65,000 from Lasdon. He retained and reported $ 17,500 of this amount as a fee for professional services. Of the remaining $ 47,500, $ 30,000 was treated by petitioner as a contribution and transmitted to the Democratic National Committee, and $…
1Opinion of the Court
Bruce, Judge:
Respondent determined deficiencies in income tax and additions to tax of petitioner as follows:
Deficiency Addition to tax, sec. 293(b) Addition to tax, sec. 294(d)(2) Year
$14,333.49 $7,166.74 $866.12 1948-.
797.83 398.62 23.87 1949..
Respondent has conceded that the year 1949 is barred by limitations. The parties have settled all adjustments made by respondent to petitioner’s income for the taxable year 1948 except one. The issues for decision are:
1. Whether petitioner understated the amount of legal fees received by him from William Lasdon on his income tax return for 1948.
2.…
2Cases cited12 opinions
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Mitchell v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1941
- Gano v. CommissionerUnited States Board of Tax Appeals · 1930
7 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Stratton v. CommissionerUnited States Tax Court · 1970
- Professional Services v. CommissionerUnited States Tax Court · 1982
- Brown v. Comm'rUnited States Tax Court · 1968
- Alisa v. CommissionerUnited States Tax Court · 1976
- Thrower v. CommissionerUnited States Tax Court · 1962
17 more not listed; retrieve them via the Exa API.