Peters v. Commissioner
United States Tax Court
Petitioner Mary Ellen obtained money in 1959-64 by false pretenses. She pleaded guilty to a charge of grand larceny committed in 1961-64. The amounts obtained in 1959-61 were in excess of 25 percent of the gross income stated in petitioners' returns.
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Petitioner Mary Ellen obtained money in 1959-64 by false pretenses. She pleaded guilty to a charge of grand larceny committed in 1961-64. The amounts obtained in 1959-61 were in excess of 25 percent of the gross income stated in petitioners' returns. Held: 1. The money so obtained was taxable income to petitioners in accord with Rutkin v. United States, 343 U.S. 130 (1952), and James v. United States, 366 U.S. 213 (1961). 2. Pursuant to sec. 6501(e), I.R.C. 1954, the deficiencies for 1959-61 are not barred by the statute of limitations.
1Opinion of the Court
Bruce, Judge:
The respondent determined deficiencies in income tax and additions to tax under section 6653(a) of the Internal Revenue Code of 1954 for negligence or intentional disregard of rules and regulations, for the calendar years 1959 through 1964, as follows:
Year Deficiency Addition to tax, sec. 6653(a), I.R.C. 1954
1959_ $1, 284. 00 $64. 20
1960_ 1, 386. 48 69. 32
1961_ 1, 310. 61 65. 53
1962_ 1, 526. 31 76. 32
1963_ 1, 606. 19 80. 31
1964_ 676. 53 33. 83
The issues for decision are (1) whether the petitioners received taxable income in the taxable years which they failed to report, (2)…
2Cases cited11 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- James v. United StatesSupreme Court of the United States · 1961
- Rutkin v. United StatesSupreme Court of the United States · 1952
- Courtney v. CommissionerUnited States Tax Court · 1957
6 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Stratton v. CommissionerUnited States Tax Court · 1970
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- Koufman v. CommissionerUnited States Tax Court · 1976
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