Court Opinion

ID: 9484304
Source: CourtListenerOpinion
Date Created: 2023-08-05 09:47:52.05731+00
Date Added: 2024-06-11T17:50:09.237567
License: Public Domain

BEAM, Circuit Judge,
dissenting.
I respectfully dissent. “If the [statutory] intent of Congress is clear, that is the end of the matter.” Chevron USA, Inc. v. NRDC, 467 U.S. 837, 842, 104 S.Ct. 2778, 2781, 81 L.Ed.2d 694 (1984). I agree with the Commissioner that IRC § 1281 unambiguously requires Security to report accrued interest income on the loans at issue in this litigation. Accordingly, I would reverse the tax court and - reinstate the $48,437.80 deficiency assessment in Security’s 1986 income tax.