[Download] "Odwyer v. Commissioner of Internal Revenue." by United States Court of Appeals for the Fifth Circuit # Book PDF Kindle ePub Free
eBook details
- Title: Odwyer v. Commissioner of Internal Revenue.
- Author : United States Court of Appeals for the Fifth Circuit
- Release Date : January 09, 1940
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
Petitioners, George L. ODwyer and R. T. ODwyer, were, during the tax years in question, professional gamblers. The petition is concerned as to George, with income tax deficiencies for the years 1923-31 inclusive, 50% penalties for the years 1923 to 1931, inclusive, 25% penalties for the years 1924, 1925, 1927 and 1929, and 5% penalty for the year 1930; and as to his wife, with tax deficiencies for the same years except 1930 and 1931, and 25% penalties for 1924, 1925 and 1927. As to R.T., it is concerned with deficiencies and penalties for the years 1929, 1930 and 1931. None of the petitioners kept books from which either their gross or their net income could be determined and the commissioner, in default of such books, determined their income for the years in question, in accordance with the best data available to him, including the increases in each year in net assets of the taxpayers. Appealing to the board from the commissioners determination as to George, of tax deficiencies of $25,117 and penalties of $8,632.11; as to Mrs. ODwyer, of tax deficiencies of $1,422.54 and penalties of $959.14; and as to R.T., of tax deficiencies of $28,494.67 and penalties of $14,645.05, petitioners secured substantial reductions in deficiencies and penalties as to Mr. and Mrs. George and a 50% reduction as to R.T., ODwyer.