Aptitude Associates, Inc. v. Commissioner
United States Tax Court
Business deductions: Accrued salaries: Deductibility in later years determined. - Deductions were denied the corporate taxpayer, under the accrual method of accounting, for the payment of salaries, in 1957 and 1958, which had accrued for prior years.
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Business deductions: Accrued salaries: Deductibility in later years determined. - Deductions were denied the corporate taxpayer, under the accrual method of accounting, for the payment of salaries, in 1957 and 1958, which had accrued for prior years. Accrued but unpaid salaries for prior years and for 1957 were not deductible in 1957, the deduction for unpaid 1957 salaries being denied under Code Sec. 267(a). Additions to tax: Failure to file a timely return: Understatement of gross receipts: Plea of ignorance. - Additions to tax were sustained for failure to file a timely return. The…
1Opinion of the Court
Aptitude Associates, Incorporated v. Commissioner.
Aptitude Associates, Inc. v. Commissioner
Docket No. 92447.
United States Tax Court
T.C. Memo 1962-281; 1962 Tax Ct. Memo LEXIS 27; 21 T.C.M. (CCH) 1485; T.C.M. (RIA) 62281;
November 28, 1962
Business deductions: Accrued salaries: Deductibility in later years determined. - Deductions were denied the corporate taxpayer, under the accrual method of accounting, for the payment of salaries, in 1957 and 1958, which had accrued for prior years. Accrued but unpaid salaries for prior years and for 1957 were not deductible in 1957, the deduction for unpaid…
2Cases cited8 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- United States v. AndersonSupreme Court of the United States · 1926
- West Virginia Steel Corp. v. CommissionerUnited States Tax Court · 1960
- North American Service Co. v. CommissionerUnited States Tax Court · 1960
- Cronin v. CommissionerUnited States Tax Court · 1946
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