Benjamin F. Birdwell v. Commissioner of Internal Revenue

When this cause was submitted to the Tax Court on a stipulation of the facts, the question presented for decision and argued there was whether, despite the contrary holdings of the courts of appeals, 1 the Tax Court should adhere to its prior ruling that payments of the kind in question were not “periodic payments” within the meaning of Section 22(k) I.R.C.1939, 26 U.S.C.A.

With a constancy and fidelity deserving of a better cause and fate, the tax court judge stood fast and, declaring in an unreported opinion, “The question is answered in the affirmative by John A. Isfalt, 24 T.C. 407 [497],…