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Arkansas Best Corp. v. Commissioner
Best is a diversified holding company that purchased controlling shares in a bank in 1968. Over the next few years, Best increased its investment in the bank as the bank grew.
United States Supreme Court | 485 U.S. 212 (1988)
Benaglia v. Commissioner
Husband and wife in Honolulu, Hawaii filed joint income tax returns. Petitioner managed several hotels in Honolulu owned by Hawaiian Hotels, Ltd.
Board of Tax Appeals | 36 B.T.A. 838 (1937)
Clark v. Commissioner
Clark was paid $19,941 by his tax counsel in 1934 to compensate him for his tax loss based on bad advice. The amount represents the difference between the taxes he would have paid if he and his wife had filed separately, and the amount he did pay based on his tax counsel's advise to file jointly.
United States Supreme Court | 489 U.S. 726 (1989)
Comm. v. Indianapolis Power & Light Co
IPL is the power company. They require certain customers to provide a security deposit approximately equal to twice their estimated monthly bill.
United States Supreme Court | 324 U.S. 515 (1945)
Commissioner of Internal Revenue v. Sunnen
Sunnen is the president of a corporation in the business of patented grinding machines and other tools. He held 89% of the corporation and his wife and two others held the rest.
United States Supreme Court | 333 U.S. 591 (1948)
Commissioner v. Duberstein
Situation 1: Duberstein was the president of a metal company. He frequently conducted business with, and gave business leads to, a Mr.
United States Supreme Court | 363 U.S. 278, 286 (1960)
Commissioner v. Flowers
The taxpayer, an attorney, resided in Jackson, MS. He worked as general counsel for the GM&O Railroad.
United States Supreme Court | 326 U.S. 465 (1946)
Commissioner v. Glenshaw Glass
Situation 1: Glenshaw Glass was involved in a long and protracted anti-trust suit against a machinery manufacturer. It was eventually settled for $800,000, of which, $324,000 was allocated as payment of punitive damages.
United States Supreme Court | 348 U.S. 426 (1955)
Commissioner v. Tufts
A general partnership purchased an apartment complex with a $1.8 million non-recourse loan. Over the course of the next two years, they contributed $44,000 in capital, and lawfully claimed $440,000 in depreciation deductions. The apartment complex had financial problems, and the partners each sold their interests subject to the mortgage to a third party.
United States Supreme Court | 461 U.S. 300 (1983)
Corn Products Refining Co. v. Commissioner
Corn Products was a major manufacturer of corn products, and as such had a tremendous need for large volumes of low-priced corn. After the depression years, Corn Products began to purchase corn futures to obtain a stable-priced supply of raw corn without having to construct large storage facilities.
United States Supreme Court | 350 U.S. 46 (1955)
Cottage Savings Assoc. v. Commissioner of Internal Revenue
Cottage is an S&L who owned several long-term, low-interest mortgages which depreciated in value in the 1970's when interest rates surged. To avoid possible closure by the Federal Home Loan Bank Board if they had sold their devalued mortgages outright and taken a loss on their books, they instead exchanged 90% interests in 252 of their mortgages for 90% interests in 305 of other S&L's mortgages with an equivalent fair market value at the time of exchange.
United States Supreme Court | 499 U.S. 554 (1991)
Crane v. Commissioner
Ms. Crane inherited a building (apartment house) for which the fair market value was equal to the amount of an outstanding mortgage of $262,000 (no equity).
United States Supreme Court | 331 U.S. 1 (1947)
Dreicer v. Commissioner
Dreicer was a traveler who lived primarily off of a family trust. Over several years, he claims that he has sought to become a multi-media personality.
Tax Court | 78 T.C. 642 (1982)
Eisner v. Macomber
The taxpayer owned 2,200 shares of stock in a company. The company declared a 50% stock dividend in 1916, so the taxpayer received an additional 1,100 shares of which 198.
United States Supreme Court | 252 U.S. 189 (1920)
Friedman v. Delaney
Friedman was a Boston lawyer who had a valuable client named Wax. Wax hired Friedman in bankruptcy proceedings.
United States District Court | 75 F. Supp. 568 (D. Mass. I948)
Harolds Club v. Commissioner
The taxpayer is a casino who employed the father of its principle shareholders. The casino paid the father a salary of between $350,000 and $500,000 for the years in question.
United States Court of Appeals for the Ninth Circuit | 340 F.2d 861 (9th Cir 1965)
Helvering v. Horst
The taxpayer owned several negotiable bonds that had an interest stub (which represented the right to demand interest upon maturity) and a principle stub (which represented the right to demand the principle upon maturity). In the year of maturity, but before the bonds actually matured, the taxpayer gave the interest stubs to his son, who then cashed them in.
United States Supreme Court | 311 U.S. 112 (1940)
Hernandez v. Commissioner
Hernandez paid money for Scientology 'auditing' and deducted it on his taxes as a charitable contribution. The Scientology church had a fee structure for all of its religious services, and from all appearances, it seemed that a participant was purchasing religious benefit.
United States Supreme Court | 90 U.S. 680 (1989)
Hudson v. Yonkers Fruit Co. Inc
The Plaintiff owned a bunch of apples for which he desired the Defendant to find a buyer. The Defendant did find a buyer, and collected the payment for the Plaintiff.
New York Court of Appeals | 258 N.Y. 168; 179 N.E. 373 (1932)
Inaja Land Co. v. Commissioner
In 1928, the taxpayer paid $61,000 for 1,236 acres of land on a river bank. In 1934, the City diverted polluted waters upstream from the taxpayer's property, adversely affecting the fishing on the taxpayer's property and causing flooding and erosion.
Tax Court | 9 T.C. 727 (1947)
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