Joffe v. Wilson

In 1965 the plaintiff Freda Joffe and her husband John J. Joffe incorporated under the name Joffe Oil Co., Inc., an oil business which they had owned and operated as individuals. A rather intricate tax problem arose from the assumption by the corporation of liabilities of the individuals. On December 12, 1967, the Internal Revenue Service (IRS) assessed a deficiency of $83,399.70 against them on their joint income tax return for the tax year 1965. The public (not “certified”) accountant who represented them, feeling beyond his depth, asked Saul Wilson, defendant in the main action, a…