United States Second Circuit
De Angelis v. Comm'r of Internal Revenue, 08-1143
Tax court order finding deficiencies in the payments of income taxes is affirmed where: 1) payments to partnerships were distributions to the plaintiffs personally, and thus were not deductible as ordinary and necessary business expenses under Internal Revenue Code sec. 162 (a); and 2) the amounts of the life insurance premiums paid by the plaintiffs are not included as gross income under Internal Revenue Code section 61 (a).
Appellate Information
- Decided 07/21/2009
- Published 07/21/2009
Judges
Court
- United States Second Circuit