PER CURIAM.
In this case an accrual basis taxpayer sold automobiles on credit, discounting his customers' obligations with finance companies. The taxpayer realized part of his gain in cash and part in the form of amounts credited to dealer's reserve accounts to be satisfied either by payment in cash or by offset against the taxpayer's obligations. The question for decision is whether the taxpayer was required to report the amount of gain credited to the dealer's reserve...
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.
