Mais v. Commissioner
United States Tax Court
In 1960 the petitioner received proceeds from the sale of securities which he had embezzled. This embezzlement was discovered later in the same year and the petitioner confessed his guilt and surrendered a part of the proceeds of the embezzlement for restitution to his employer. Held, that the respondent did not err in including in the petitioner's gross income for the taxable year 1960 that portion of the embezzled funds which was not repaid in 1960.
1Opinion of the Court
Atkins, Judge:
The respondent determined a deficiency in income tax against the petitioner for the taxable year 1960 in the amount of $6,761.92. The issue presented is whether under the circumstances presented petitioner for his taxable year 1960 is taxable upon the portion of amounts embezzled by him from his employer in that year which he did not repay during such year.
FINDINGS OF FACT
The petitioner, an individual, resided in New York City, at the time he filed his petition. He filed his Federal income tax return for the taxable year 1960 with the district director of internal revenue,…
2Cases cited7 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- James v. United StatesSupreme Court of the United States · 1961
- United States v. MerrillCourt of Appeals for the Ninth Circuit · 1954
- Estate of Wallace P. Geiger, Deceased, Warren G. Dunkle, and Burnice I. Geiger v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1966
- Nerem v. CommissionerUnited States Tax Court · 1963
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