Oberman Mfg. Co. v. Commissioner
United States Tax Court
1. By its collective-bargaining agreements with a labor union, the petitioner was required to grant vacations with pay to those employees who, during the vacation year, had worked a specified percentage of working hours made available to them.
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1. By its collective-bargaining agreements with a labor union, the petitioner was required to grant vacations with pay to those employees who, during the vacation year, had worked a specified percentage of working hours made available to them. The vacation year ended on June 1, whereas the petitioner's taxable year ended on the Saturday nearest to November 30. Held, that the respondent correctly determined that the amount accrued and deducted by the petitioner as of the end of each taxable year for the first half of the vacation year ending the following June 1 had not accrued at that time…
1Opinion of the Court
Atkins, Judge:
The respondent determined a deficiency in income tax for the taxable year ended December 1, 1962, in the amount of $87,126.44. Also involved are the taxable years ended November 28, 1959, December 3,1960, December 2,1961, and November 30,1963, but only for the purpose of establishing the amount of the net operating loss deduction to which the petitioner is entitled for the taxable year ended December 1, 1962. The issues presented for decision relate to (1) the amount of the deductions to which the petitioner is entitled on account of vacation pay; and (2) the deductibility, for…
2Cases cited8 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Brown v. HelveringSupreme Court of the United States · 1934
- Illinois Merchants Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Fruehauf Trailer Co. v. CommissionerUnited States Tax Court · 1964
- Fruehauf Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1966
3 more not listed; retrieve them via the Exa API.
3Cited by47 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Peoples Bank & Trust Co. v. CommissionerUnited States Tax Court · 1968
- United States v. W. J. Wehrli and Helen B. WehrliCourt of Appeals for the Tenth Circuit · 1968
- Chicago, Burlington & Quincy Railroad v. United StatesUnited States Court of Claims · 1972
- Thriftimart, Inc. v. CommissionerUnited States Tax Court · 1973
42 more not listed; retrieve them via the Exa API.