Deupree v. Commissioner
United States Tax Court
The board of directors of a corporation, of which petitioner was president, had in a prior year established a five-year plan for additional remuneration to certain executives and employees of the company, including petitioner. In the taxable year, in accordance with the plan, such a fund was established out of profits and petitioner was entitled to participate in its distribution.
Read the full summary
The board of directors of a corporation, of which petitioner was president, had in a prior year established a five-year plan for additional remuneration to certain executives and employees of the company, including petitioner. In the taxable year, in accordance with the plan, such a fund was established out of profits and petitioner was entitled to participate in its distribution. Out of the amount which petitioner was entitled to receive he directed the company to use $ 50,000 in the purchase of a single premium annuity policy payable to petitioner, which was done and the policy was…
1Opinion of the Court
OPINION.
Black, Judge:
In the stipulation of facts which was signed by the parties there was embodied this language: “this stipulation or any portion thereof may be offered in evidence in the trial of this cause by either party with the same force and effect as if the same were duly proved by the testimony of witnesses, reserving to each party the right to question the admissibility and relevancy of any fact admitted herein * * When the stipulation was presented at the hearing petitioner objected to paragraphs 3 and 4 thereof and also objected to that part of paragraphs 5 and 6 which included…
2Cases cited1 opinion
- Corliss v. BowersSupreme Court of the United States · 1930
3Cited by57 opinions
- Miller v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1944
- Sibla v. CommissionerUnited States Tax Court · 1977
- Sproull v. CommissionerUnited States Tax Court · 1951
- Taylor v. CommissionerUnited States Tax Court · 1943
- Stewart v. CommissionerUnited States Tax Court · 1947
52 more not listed; retrieve them via the Exa API.