Schlude v. Commissioner
| Schlude v. Commissioner | |
|---|---|
| Argued December 10, 1962 Decided February 18, 1963 | |
| Full case name | Schlude, et ux. v. Commissioner of Internal Revenue |
| Citations | 372 U.S. 128 (more) 83 S. Ct. 601; 9 L. Ed. 2d 633; 1963 U.S. LEXIS 2583 |
| Case history | |
| Prior | 32 T.C. 1271 (1959); reversed, 283 F.2d 234 (8th Cir. 1960); cert. granted, vacated, and remanded, 367 U.S. 911 (1961); rehearing denied, 368 U.S. 873 (1961); Tax Court affirmed on remand, 296 F.2d 721 (8th Cir. 1961); cert. granted, 370 U.S. 902 (1962). |
| Holding | |
| 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. | |
| Court membership | |
| |
| Case opinions | |
| Majority | White, joined by Warren, Black, Clark, Brennan |
| Dissent | Stewart, joined by Douglas, Harlan, Goldberg |
| Laws applied | |
| Internal Revenue Code | |
English Wikisource has original text related to this article:
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.