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PAYNE v. UNITED STATES

No. 281-72.

489 F.2d 1404 (1974)

William Howard PAYNE and Elizabeth Payne v. The UNITED STATES.

United States Court of Claims.

January 23, 1974.

Attorney(s) appearing for the Case

Charles E. Robbins, Washington, D. C., for plaintiffs; William H. Payne, Washington, D. C., attorney of record.

Charles E. Auslander, Jr., Washington, D. C., with whom was Asst. Atty. Gen. Scott P. Crampton, for defendant; Gilbert E. Andrews, Jr., and Joseph Kovner, Washington, D. C., of counsel.

Before DAVIS, KASHIWA and KUNZIG, Judges.

KUNZIG, Judge:

This is a suit for the recovery of $15,486.60 in federal income tax paid for the year 1966, plus interest on that amount. The dispute before us involves the relationship between the net-operating-loss carryback provision of Internal Revenue Code section 172 and the income-averaging provision of former section 1301. In our opinion, plaintiffs may not create a double tax benefit by combining the operations of these two relief provisions. Consequently...

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