Legal Opinion
Blaine Johnson and His Wife, Evelyn K. Johnson v. Commissioner of Internal Revenue
Court of Appeals for the Fourth Circuit
Decided May 18, 1956No. 7166PublishedCited by 39 opinions
1Opinion of the Court
THOMSEN, District Judge.
The principal question on this petition to review a decision of the Tax Court is whether amounts withheld by finance companies purchasing notes from taxpayer, an accrual basis trailer dealer, and set up and credited to his “dealer’s reserve” account on the companies’ books as reserves against possible losses, pursuant to agreements between the companies and taxpayer, should be considered taxable income to him (a) in the years in which they are so credited, or (b) in the years in which they become payable to him under the terms of the agreements.
The essential facts are…
2Cases cited15 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Spring City Foundry Co. v. CommissionerSupreme Court of the United States · 1934
- Brown v. HelveringSupreme Court of the United States · 1934
- Commissioner of Internal Revenue v. Ashland Oil & Refining Co.Court of Appeals for the Sixth Circuit · 1938
- Prairie Oil & Gas Co. v. MotterCourt of Appeals for the Tenth Circuit · 1933
10 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Commissioner v. HansenSupreme Court of the United States · 1959
- Bennett v. CommissionerUnited States Tax Court · 1958
- John R. Hansen and Shirley G. Hansen v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1958
- Texas Trailercoach, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- Long Poultry Farms, Incorporated v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1957
34 more not listed; retrieve them via the Exa API.