Schlude v. Commissioner of Internal Revenue

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Schlude v. Commissioner of Internal Revenue (1963)
the Supreme Court of the United States

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Schlude v. Commissioner, 372 U.S. 128 (1963), is a decision by the United States Supreme Court in which the Court held that, under the accrual method, taxpayers must include as income in a particular year advance payments by way of cash, negotiable notes, and contract installments falling due but remaining unpaid during that year. In doing so, the Court tossed aside the matching principle in favor of the earlier-of test. Warning: template has been deprecated.

922269Schlude v. Commissioner of Internal Revenue — Syllabusthe Supreme Court of the United States

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Opinion of the Court

Dissenting Opinion: Stewart

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United States Supreme Court

372 U.S. 128

Schlude v. Commissioner of Internal Revenue

Argued: Dec. 10, 1962. --- Decided: Feb 18, 1963

Carl F. Bauersfeld, Washington, D.C., for petitioners.

Louis F. Oberdorfer, Washington, D.C., for respondent.

Mr. Justice WHITE delivered the opinion of the Court.

Notes

This work is in the public domain in the United States because it is a work of the United States federal government (see 17 U.S.C. 105).

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