Legal Opinion
Richard E. Busch Jr. & Jean N. Busch v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided March 1, 1984No. 83-1920PublishedCited by 33 opinions
1Opinion of the Court
FLAUM, Circuit Judge.
This appeal raises the issue of whether certain withdrawals made by a taxpayer from his wholly-owned corporation should be treated as loans or dividends in determining the taxpayer’s income tax liability. The Tax Court determined that the amounts withdrawn were taxable as dividends. For the reasons stated below, we affirm the Tax Court.
I
Appellant Richard E. Busch Jr. 1 is the sole stockholder, the president, and a director of the Fort Wayne Chiropractic Clinic, Inc. (the corporation). He is also an employee of the corporation.
During the tax years 1973, 1974, and 1975,…
2Cases cited27 opinions
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- Welch v. HelveringSupreme Court of the United States · 1933
- Pullman-Standard v. SwintSupreme Court of the United States · 1982
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Estate of E. W. Chism, Deceased, Clara Chism, and Clara Chism v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
22 more not listed; retrieve them via the Exa API.
3Cited by33 opinions
- Sally A. Shea v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1986
- Ralph D. Crowley and Frances A. Crowley v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1992
- Michael v. Frierdich and Connie J. Frierdich v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1991
- Leonard C. Jaques, Sybil J. Jaques v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1991
- Indianapolis Power & Light Company v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1988
28 more not listed; retrieve them via the Exa API.