PER CURIAM.
Petitioner and his wife seek to overturn a decision of the Tax Court which upheld a deficiency assessment against them for federal income tax liability for 1964.
Petitioner attempted to gain the beneficial income tax treatment of 26 U.S.C. A. § 453 by selling his insurance agency on an installment basis. Section 453(b) provides for deferred reporting of the gain from the installment sale of assets if in the year of the sale the payments received...
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.