United States Seventh Circuit

The "one-year rule", which allows a taxpayer to deduct expenses for items that extend less than 12 months into the subsequent tax year as current expenses in the year they are incurred, may apply to an accrual method taxpayer.

Appellate Information

• Argued 01/18/2001
• Decided 11/06/2001
• Published 11/06/2001

Judges

• DIANE P. WOOD, Circuit Judge., Before BAUER, MANION, and DIANE P. WOOD, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• Gerald A. Kafka (argued), McKee, Nelson, Ernst & Young, Washington, DC, for Petitioner-Appellant., Lawrence S. Ebner, McKenna & Cuneo, Washington, DC, for Amici Curiae.


• For Appellees:
  
• Ellen P. Delsole (argued), Dept. of Justice, Tax Div., App. Sec., Washington, DC, for Respondent-Appellee.