Naumkeag Steam Cotton Co. v. United States

2 F. Supp. 126, 76 Ct. Cl. 687, 11 A.F.T.R. (P-H) 1246, 1933 U.S. Ct. Cl. LEXIS 363, 3 U.S. Tax Cas. (CCH) 1034
CourtUnited States Court of Claims
DecidedJanuary 9, 1933
DocketL-327
StatusPublished
Cited by20 cases

This text of 2 F. Supp. 126 (Naumkeag Steam Cotton Co. v. United States) is published on Counsel Stack Legal Research, covering United States Court of Claims primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Naumkeag Steam Cotton Co. v. United States, 2 F. Supp. 126, 76 Ct. Cl. 687, 11 A.F.T.R. (P-H) 1246, 1933 U.S. Ct. Cl. LEXIS 363, 3 U.S. Tax Cas. (CCH) 1034 (cc 1933).

Opinions

BOOTH, Chief Justice.

The Commissioner of Internal Revenue, upon a reeomputation of the plaintiff’s tax liabilities for the yea rs 1919, 1920, and 1921, determined that the plaintiff had overpaid its taxes for those years in the aggregate sum of $295,150.59. The commissioner credited these delermined overpayments to the liquidation of deficiency assessments which ho had made against the plaintiff for the years 1917 and 1918.

The plaintiff sues to recover the amount of the credit, together with interest thereon.

The plaintiff’s books were kept on the basis of a fiscal year ending November 30, and all its tax returns were made upon that basis.

The plaintiff made timely tax returns for the years 1916, 1917, and 1918, a,nd paid the taxes shown to be due thereon for each of those years.

On December 19, 1922, the Commissioner of Internal Revenue wrote the plaintiff that an audit of its tax returns for the years 1916, 1917, and 1918 disclosed a deficiency in its tax liability for those years of $349,631.84. The deficiency for the year 1916 was $5,-781.35. The statute of limitations for the assessment of the tax for that year having then expired, the plaintiff filed a waiver as to that year.

[132]*132The commissioner signed a deficiency assessment list for the years in question on February. 8,192-3, and notice and demand for the payment of the taxes so assessed, $349,631.-84, was mailed to the plaintiff on February 23, 1923.

Plaintiff filed timely income and profits tax returns for the years 1919, 1920, and 1921, and the taxes shown to be due on such returns were paid.

Immediately upon the receipt of the deficiency assessment notice and demand from the commissioner for the payment of the additional taxes for the years 1916, 1917, and 1918, the plaintiff prepared, and on March 5, 1923, filed, amended tax returns for the years 1919, 1930, and 1921. The amended returns were made upon the same method of computation of its tax liability for those years as the commissioner had used in his determination of deficiency assessments for the years 1916, 1917, and -1918, and showed that the plaintiff had overpaid its taxes for the years 1919, 1920, and 1921 in the aggregate sum of $306,391.68. Concurrently with the filing of its amended returns for the years in question, the plaintiff filed on Form 843 claims for credit for the full amount of the overpayment of its taxes for-the years 19191, 1920, and 1921, as shown by its amended returns against the deficiency assessments which the commissioner had made against it for the years 1917 and 1918. The plaintiff in the claim for credit pointed out with particularity the application of the overpayments to the deficiencies for each of the years 1917 and 1918, computed precisely the extent to which the credit would liquidate the deficiency assessments for 1917 and 1918, and inclosed its cheek for $37,458.81 in payment of the balance of the taxes due for those years. It also, on March 6, 1923, paid the $5,781.35 deficiency assessment for the year 1916. These payments, $37,458.81 and $5,781.35, together with the sum of '$306,391.68, the total overpayment, for the years 1919, 1920, and 1921, as shown by the plaintiff’s amended returns, totaled $349',631.84, the exact amount of the deficiency assessments for the years 1916, 1917, and 1918.

Upon the receipt of plaintiff’s amended returns for 1919, 1920, and 1921 and its requests for credit of overassessments disclosed therein, the commissioner caused an investigation and audit of these returns to be made, and on May 15, 1924, acting upon the audit of a designated revenue agent filed February 12) 1924, advised the plaintiff by registered mail that its income and profits tax returns for the fiscal years 1919, 1920, and 1921 disclosed an aggregate overassessment of $295,-196.75) and on August 15, 1924, signed and transmitted to the collector a schedule of over-assessments, with instructions to the collector to enter all or any portion of said sum as a eredit upon outstanding and unpaid taxes of former years. This the collector did by crediting this sum in payment, in so far as it extended, upon plaintiff's unpaid deficiencies for 1917 and 1918.

The commissioner received in due course from the collector the schedule of overassessments and the collector’s schedule of refund and credits, .whereupon the commissioner signed his authorization to the disbursing clerk of the Treasury Department February 19, 1925. This schedule did not list any amount to be refunded plaintiff.

Plaintiff, on April 6, 1925, received the commissioner’s certificates of overassessments for the years 1919, 1920, and 1921. The overassessments for these years, after due allowance of abatement and eredit claims theretofore filed, together with the application of the overassessments as a credit upon the unpaid deficiencies for the years 1916, 1917, and 1918, left due and unpaid upon plaintiff’s tax liability for the years involved the sum of $11,241.09 on the 1918 tax account, and on February 4, 1925, the plaintiff paid to the collector this sum, with the added legal interest due thereon, without protest or objection.

The plaintiff contends that sections 607 and 609 of the Revenue Act of 1928 (26 US CA §§ 2607, 2609), rendered void the credit made against plaintiff’s tax liability for its unpaid deficiencies for the years 1917 and 1918, and therefore under the Bonwit Teller & Company Case, 283 U. S. 258, 51 S. Ct. 395, 75 L. Ed. 1018, plaintiff is entitled to recover the full amount, with interest, of the overpayments made upon its tax returns for 1919, 1920, and 1921.

' The pertinent provisions of the Revenue Act of 1928, 45 Stat. 874, 875, are as follows:

“See. 607. Any tax (or any interest, penalty, additional amount, or addition to such tax) assessed or paid (whether before or after May 29, 1928 [the enactment of this act]) after the expiration of the period of limitation properly applicable thereto shall be considered an overpayment and shall be credited or refunded to the taxpayer if claim therefor is filed within the period of limitation for filing such claim.”

“See. 609. Erroneous Credits

“(a) Credit against Barred Deficiency. Any eredit against a liability in respect of [133]*133any taxable year shall be void if any payment in respect of such liability would be considered an overpayment under section 2607 [607]. * * •'

“(c) Application of Section. The provisions of this section shall apply to any credit made before or after May 29, 1928 [the enactment of this act].”

The Commissioner of Internal Revenue signed the schedule of refunds and credits on February .19, 1925', more than five years subsequent to the date of the filing of plaintiff’s returns for the fiscal years 1917 and 1918, and if this act alone determines the issue in this ease the plaintiff would he entitled to recover. Both parties to the suit concede this to be the ease.

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Naumkeag Steam Cotton Co. v. United States
2 F. Supp. 126 (Court of Claims, 1933)

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2 F. Supp. 126, 76 Ct. Cl. 687, 11 A.F.T.R. (P-H) 1246, 1933 U.S. Ct. Cl. LEXIS 363, 3 U.S. Tax Cas. (CCH) 1034, Counsel Stack Legal Research, https://law.counselstack.com/opinion/naumkeag-steam-cotton-co-v-united-states-cc-1933.