United States Seventh Circuit

In an action involving an allegedly mistaken tax refund, district court judgment is affirmed where defendant must repay the refund as the shares of stock in question are taxable at their value on the date of deposit in 2000, and that the price of the stock dropped in 2001 and later does not entitle the parties to defer the recognition of income.

Appellate Information

• Argued 10/30/2008
• Decided 04/10/2009
• Published 04/10/2009

Judges

• EASTERBROOK, Chief Judge., Before EASTERBROOK, Chief Judge, and RIPPLE and TINDER, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellees:
  
• Francesca U. Tamami (argued), Department of Justice, Tax Div., Appellate Section, Washington, DC, for Plaintiff-Appellee., George N. Vurdelja, Jr., Harrison & Held, LLP, Chicago, IL, Kenneth R. Boiarsky (argued), Kenneth R. Boiarsky, P.C., El Prado, NM, for Defendants-Appellants.