George v. Commissioner
United States Board of Tax Appeals
BONUSES AND COMMISSIONS - TAXABLE IN YEAR WHEN ACCRUED, WHERE PETITIONER KEPT HIS BOOKS ON THE ACCRUAL BASIS. Where petitioner was employed on a salary plus a percentage of the profits as bonus and commissions and kept his accounts on an accrual basis and for a good many years rendered his income, including such bonuses and commissions, for taxation on an accrual basis, it was error for him to change his method of reporting income for taxation to the cash receipts and…
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BONUSES AND COMMISSIONS - TAXABLE IN YEAR WHEN ACCRUED, WHERE PETITIONER KEPT HIS BOOKS ON THE ACCRUAL BASIS. Where petitioner was employed on a salary plus a percentage of the profits as bonus and commissions and kept his accounts on an accrual basis and for a good many years rendered his income, including such bonuses and commissions, for taxation on an accrual basis, it was error for him to change his method of reporting income for taxation to the cash receipts and disbursements basis without first obtaining permission from the Commissioner of Internal Revenue to make such change.
1Opinion of the Court
OPINION.
Black:
The respondent determined a deficiency of $50,686.78 against the petitioner for the year 1924. Petitioner alleges that the determination of the Commissioner is based upon the following errors:(a) Use of an incorrect net income.(b) Failure to allow as a deduction in computing the net income for 1924 ihe net loss sustained by the taxpayer during the year 1923.(c) Erred in adding to income for 1924 the sum of $151,038.98.
No evidence was offered as to any net loss for 1923 and petitioner says nothing about it in his brief and, under these circumstances, that particular assignment of…
2Cases cited3 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Niles Bement Pond Co. v. United StatesSupreme Court of the United States · 1930
- Aluminum Castings Co. v. RoutzahnSupreme Court of the United States · 1930
3Cited by6 opinions
- Drazen v. CommissionerUnited States Tax Court · 1960
- Shoong Inv. Co. v. AnglimDistrict Court, N.D. California · 1942
- Evans v. CommissionerUnited States Tax Court · 1988
- Drazen v. CommissionerUnited States Tax Court · 1960
- George v. CommissionerUnited States Board of Tax Appeals · 1933
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