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SCHWAM v. COMMISSIONER

Docket No. 1370-70 SC.

29 T.C.M. 1783 (1970)

T.C. Memo. 1970-357

Joseph Schwam and Marion Schwam, Petitioners v. Commissioner.

United States Tax Court.

Filed December 31, 1970.

Attorney(s) appearing for the Case

James J. Richman, 120-48 Queens Blvd., Kew Gardens, N. Y., for the petitioners. A. Mills McCawley, for the respondent.

Memorandum Findings of Fact and Opinion

TANNENWALD, Judge:

Respondent determined a deficiency of $680.75 in petitioners' income tax for the taxable year 1966. Because of certain concessions by petitioners, the sole issue before us concerns the deductibility as ordinary and necessary business expenses under section 1621 of restitution payments claimed to have been made by Mr. Schwam to his employer because of alleged shortages...

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