Lloyd E. Williams, Jr. And Mildred A. Williams v. Commissioner of Internal Revenue

U.S. Court of Appeals, Seventh Circuit · Decided 1993-08-31

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*503 POSNER, Circuit Judge. Section 483 of the Internal Revenue Code, before it was amended in 1984, provided that if the first installment of the price for a purchase was not due for more than six months, the purchaser could pretend that he had borrowed the amount of the installment from the seller and c…

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