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UNITED STATES v. WILLIAMS

No. 24416.

395 F.2d 508 (1968)

UNITED STATES of America, Appellant, v. W. B. and Edna B. WILLIAMS, Appellees.

United States Court of Appeals Fifth Circuit.

May 24, 1968.

Attorney(s) appearing for the Case

Floyd M. Buford, U. S. Atty., Macon, Ga., Mitchell Rogovin, Asst. Atty. Gen., Richard C. Pugh, Lee A. Jackson, Harry Marselli, Harry Baum, Donald A. Statland, Jonathan Cohen, Attys., Dept. of Justice, Washington, D. C., for appellant.

Cubbedge Snow, Macon, Ga., for appellee.

Before TUTTLE, BELL and SIMPSON, Circuit Judges.

SIMPSON, Circuit Judge:

This appeal involves a deficiency in income tax for the year 1956 in the amount of $108,839.06, plus interest and costs.

The sole issue presented is whether a sum of money received by appellee Williams (sometimes herein, taxpayer) constituted a loan or prepayment of rent. The proceeds are taxable only if determined to be prepayment of rent.1

Williams owned timber lands in four counties in Georgia...

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