BURNET, COMMISSIONER OF INTERNAL REVENUE, v. WILLINGHAM LOAN & TRUST COMPANY, 282 U.S. 437

Summary

The Court reversed a judgment holding that tax assessments against respondent taxpayer were too late under the statutes by which they were authorized. Respondent filed tax returns for the years 1920 and 1921 on March 15, 1921, and March 15, 1922. Assessments for both years were made on March 15, 1926. The 1920 assessment fell under the Revenue Act of 1918, c. 18, § 250 (d), 40 Stat. 1057, 1083, which required assessment within five years after the return was due or was made. The 1921 assessment fell under the Revenue Act of 1921, c. 136, § 250 (d), 42 Stat. 227, 265, which required assessment within four years after the return was filed. The Court reasoned that, by common usage, "four years after the return was filed," meant four years after the day on which the return was filed. When the period allowed for doing an act was the happening of an event, the day on which the event happened was regarded as an entirety, or a point of time, and so could be excluded from the computation. ...