Commissioner v. Wilcox
Encyclopedia
Commissioner v. Wilcox, 327 U.S. 404 (1946), was a case decided by the Supreme Court of the United States
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The issue presented in this case was whether embezzled money constituted taxable income to the embezzler under § 22(a) of the Internal Revenue Code of 1939.
Although the Court ruled that the embezzlement income was not taxable to the embezzler in Wilcox, the Court later overruled this holding in James v. United States.
Supreme Court of the United States
The Supreme Court of the United States is the highest court in the United States. It has ultimate appellate jurisdiction over all state and federal courts, and original jurisdiction over a small range of cases...
.
The issue presented in this case was whether embezzled money constituted taxable income to the embezzler under § 22(a) of the Internal Revenue Code of 1939.
Although the Court ruled that the embezzlement income was not taxable to the embezzler in Wilcox, the Court later overruled this holding in James v. United States.