Legal Opinion
Estate of Heinz Schmidt, Deceased, and Charlotte Schmidt v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided January 11, 1966No. 19809PublishedCited by 18 opinions
1Opinion of the Court
DUNIWAY, Circuit Judge:
This is a petition to review a decision of the Tax Court of the United States, reported at 42 T.C. 1130. We reverse.
The facts are not in dispute. From 1935 until June 30, 1959 taxpayer husband 1 operated a business as a single proprietorship. Pursuant to permission given by the Commissioner of Internal Revenue, the business, which was on the accrual basis of accounting, used the reserve method of accounting for bad debts. As of June 30, 1959 the business had accounts receivable in the amount of $914,-564.38 and the reserve amounted to $27,-445.71. On that date the…
2Cases cited11 opinions
- United States v. SanchezSupreme Court of the United States · 1950
- Geyer, Cornell & Newell, Inc. v. CommissionerUnited States Tax Court · 1946
- West Seattle National Bank of Seattle v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1961
- West Seattle Nat'l Bank v. CommissionerUnited States Tax Court · 1959
- Commissioner of Internal Revenue v. South Lake Farms, Inc., Commissioner of Internal Revenue v. South Lake FarmsCourt of Appeals for the Ninth Circuit · 1963
6 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Nash v. United StatesSupreme Court of the United States · 1970
- Bird Management, Inc. v. CommissionerUnited States Tax Court · 1967
- Citizens' Acceptance Corporation, a Dissolved Corporation Continued by Statute for Purposes of Suit v. United StatesCourt of Appeals for the Third Circuit · 1972
- Schuster v. CommissionerUnited States Tax Court · 1968
- Home Savings and Loan Association v. United StatesCourt of Appeals for the Ninth Circuit · 1975
13 more not listed; retrieve them via the Exa API.