W. R. Alsobrook and Wells F. Alsobrook v. United States

This is a timely appeal from final judgment dismissing the complaint of W. R. Alsobrook and Wells F. Alsobrook 1 for claim for refund of 1969 income tax alleged to have been wrongfully assessed and paid. Jurisdiction of the trial court under 28 U.S.C. § 1346(a)(1) is established. The trial court’s opinion setting out the facts, the issues and the basis of the decision is reported at 431 F.Supp. 1122 (E.D.Ark.1977). The sole issue raised by the taxpayers is that the trial court erred in denying appellants a business bad debt deduction under Section 166 of the Internal Revenue Code in 1969 in…