Haywood Lumber & M. Co. v. Commissioner
United States Tax Court
Petitioner failed to file a personal holding company surtax return in 1941 and 1942, though it was a personal holding company within the meaning of section 501 during those years. Held, that such failure was due to willful neglect and not to reasonable cause and that accordingly petitioner is liable for the statutory penalty for failing to file such returns.
1Opinion of the Court
OPINION.
Hill, Judge-.
Petitioner was a personal holding company within the definition of section 501 of the Internal Revenue Code during the years 1941 and 1942. Respondent imposed a 25 per cent delinquency penalty on petitioner for failure to file personal holding company surtax returns for those years under authority of section 3612 (d) (1) of the Internal Revenue code.1 The sole question for our determination is whether petitioner’s failure “was due to a reasonable cause and not to willful neglect.” The burden of proof rests upon petitioner to show there was reasonable cause for its…
Also in this document: Dissent.
2Cases cited4 opinions
- Southeastern Finance Co. v. CommissionerUnited States Tax Court · 1945
- Tarbox Corp. v. CommissionerUnited States Tax Court · 1946
- Hermax Co. v. CommissionerUnited States Tax Court · 1948
- Genesee Valley Gas Co. v. CommissionerUnited States Tax Court · 1948
3Cited by23 opinions
- Crocker v. CommissionerUnited States Tax Court · 1989
- Estate of Lammerts v. CommissionerUnited States Tax Court · 1970
- Paschall v. CommissionerUnited States Tax Court · 2011
- Portable Industries, Inc. v. CommissionerUnited States Tax Court · 1955
- Victorson v. CommissionerUnited States Tax Court · 1962
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