Fox v. Commissioner
United States Tax Court
Fox, in 1966 and 1967, embezzled funds totaling $ 124,250 from the Bank of Springfield and in 1967 repaid those embezzlements with funds he embezzled from the Bank of Otterville. He was convicted of embezzling $ 10,000 in 1966 and $ 93,750 in 1967 from the Bank of Springfield. He was also convicted of misappropriating $ 124,250 in 1967 from the Bank of Otterville.
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Fox, in 1966 and 1967, embezzled funds totaling $ 124,250 from the Bank of Springfield and in 1967 repaid those embezzlements with funds he embezzled from the Bank of Otterville. He was convicted of embezzling $ 10,000 in 1966 and $ 93,750 in 1967 from the Bank of Springfield. He was also convicted of misappropriating $ 124,250 in 1967 from the Bank of Otterville. It is held: 1. The judgment convicting Fox of having embezzled $ 10,000 in 1966 does not estop respondent from determining that Fox embezzled other amounts in that year; 2. Petitioners did not carry their burden of proving that…
1Opinion of the Court
FeatherstoN, Judge:
Respondent determined a deficiency in the income tax of petitioners Blaine S. and Nancy A. Fox for 1966 in the amount of $6,372.53 and an addition to tax under section 6653(b)1 in the amount of $3,186.27. At the trial, respondent conceded that Nancy A. Fox is not liable for the addition to tax but did not make a similar concession as to Blaine'S. Fox. Respondent also determined a deficiency in the income tax of Blaine'S. Fox for 1967 in the amount of $42,248.88 and an addition to tax under section 6653(b) in the amount of $21,124.44.
The issues for decision are as…
2Cases cited25 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. SunnenSupreme Court of the United States · 1948
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Corliss v. BowersSupreme Court of the United States · 1930
- James v. United StatesSupreme Court of the United States · 1961
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3Cited by74 opinions
- Jackson v. CommissionerUnited States Tax Court · 1979
- Estate of Pittard v. CommissionerUnited States Tax Court · 1977
- Terzian v. CommissionerUnited States Tax Court · 1979
- Freeland v. CommissionerUnited States Tax Court · 1980
- Brittingham v. CommissionerUnited States Tax Court · 1976
69 more not listed; retrieve them via the Exa API.