The Commissioner determined a deficiency of $8,052.93 in income tax for the year 1941. The petitioner assails the inclusion in his taxable income of $12,500 paid in 1941 to the American Trust Co., trustee, pursuant to the provisions of an employment contract and trust agreement dated November 13, 1941.
FINDINGS OF FACT.
The petitioner is a resident of Salisbury, North Carolina. He filed his 1941 Federal income tax return on the cash basis with the collector...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
