Legal Opinion
Adams v. Commissioner
Court of Appeals for the Eighth Circuit
Decided March 2, 1979No. Nos. 78-1570 to 78-1572PublishedCited by 4 opinions
1Opinion of the Court
LAY, Circuit Judge.
This is a consolidated appeal by related taxpayers to review a decision of the tax court, 69 T.C. 1040 (1978), finding taxpayers liable for a deficiency of $115,969.651 in their federal income taxes for the 1972 taxable year. The deficiency is based on the tax court’s conclusion that a redemption by First Security Bank of 217 shares of its stock was a taxable dividend to the taxpayers under I.R.C. § 316(a).2
The redemption was part of a purchase plan by which the taxpayers acquired the stock of First Security Bank of Sutherland, Nebraska (hereafter First Security). In August…
2Cases cited10 opinions
- Wall v. United StatesCourt of Appeals for the Fourth Circuit · 1947
- United States v. DavisSupreme Court of the United States · 1970
- Joseph R. Holsey and Eleanor T. Holsey v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Television Industries, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1960
- William J. Sullivan and Georgia K. Sullivan v. United StatesCourt of Appeals for the Eighth Circuit · 1966
5 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Daniel Jacobs v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1983
- Schroeder v. CommissionerCourt of Appeals for the Ninth Circuit · 1987
- David L. Schroeder and Tana Schroeder v. Commissioner of Internal Revenue Service, Skyline Memorial Gardens, Inc. v. Commissioner of Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1987
- John B. Adams and Linda B. Adams v. Commissioner of Internal Revenue, Melvin H. Adams and Lucille B. Adams v. Commissioner of Internal Revenue, Melvin H. Adams, Jr. And Huberta A. Adams v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1979