In the case of United States v. Urbuteit, the Supreme Court ruled on a matter involving federal income tax evasion. The defendant, Mr. Urbuteit, was accused of evading taxes by underreporting his income for several years during World War II while he worked as an agent for German companies in South America and received commissions from them which were deposited into Swiss bank accounts. He argued that these earnings were not taxable because they originated from foreign sources and were never brought into the U.S., but rather kept overseas in Switzerland. The court disagreed with this argument, stating that all citizens are liable to pay taxes on their global incomes regardless of where it is earned or stored. They held that since Mr.Urbuteit was a resident and citizen of the U.S., he owed taxes on his worldwide income irrespective of whether or not it entered American soil at any point. This ruling set a precedent regarding taxation laws applicable to U.S citizens' foreign-earned incomes; reinforcing that such earnings are subject to federal taxation just like domestic ones.

In the dissenting opinion for United States v. Urbuteit, it was argued that the majority's decision to uphold Urbuteit's conviction under a statute prohibiting false statements about one’s financial condition to influence bank action was incorrect. The dissent contended that this interpretation of the law would criminalize any misrepresentation made in connection with a loan application, even if it did not directly affect the bank's decision-making process. This broad interpretation could potentially lead to unjust outcomes and over-criminalization. Furthermore, they disagreed with how evidence was handled during trial proceedings and believed there were errors in jury instructions regarding intent and materiality of falsehoods which may have influenced their verdict unfairly against Urbuteit.