Fortugno v. Commissioner
United States Tax Court
In order to forestall a jeopardy assessment by the respondent, petitioners on or about August 31, 1954, deposited $ 1 million with the respondent. The deposit was made prior to the issuance of both the 30-day and 90-day letters. Although the eight petitioners at the time of the deposit were aware of the aggregate amount respondent was proposing to assert against them collectively, they had no knowledge of their individual liabilities.
Read the full summary
In order to forestall a jeopardy assessment by the respondent, petitioners on or about August 31, 1954, deposited $ 1 million with the respondent. The deposit was made prior to the issuance of both the 30-day and 90-day letters. Although the eight petitioners at the time of the deposit were aware of the aggregate amount respondent was proposing to assert against them collectively, they had no knowledge of their individual liabilities. The petitioners never requested respondent to assess their tax liabilities to the extent of the $ 1 million payment and never intended by the $ 1 million…
1Opinion of the Court
OPINION
Fay, Judge:
The parties are agreed that petitioners have paid to the district director an amount in excess of their tax liabilities. The only issue before us is when was the overpayment made. Petitioners take the position that the overpayment was made on August 31, 1954 (or September 7, 1954),3 at which time the $1 million was remitted to the respondent. The respondent takes the position that no overpayment exists until petitioners’ tax liability is actually fixed by an assessment or by an agreement between the petitioners and the respondent.
Since this Court is given jurisdiction to…
2Cases cited26 opinions
- Rosenman v. United StatesSupreme Court of the United States · 1945
- Lewyt Corp. v. CommissionerSupreme Court of the United States · 1955
- Stainback v. Mo Hock Ke Lok PoSupreme Court of the United States · 1949
- Lewyt Corp. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1954
- United States v. Dubuque Packing Company, a Corporation, Dubuque Packing Company, a Corporation v. United StatesCourt of Appeals for the Eighth Circuit · 1956
21 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Risman v. CommissionerUnited States Tax Court · 1993
- Estate of Fortugno v. CommissionerUnited States Tax Court · 1965
- Fortugno v. CommissionerUnited States Tax Court · 1963
- Risman v. CommissionerUnited States Tax Court · 1993