Trebotich v. Commissioner
United States Tax Court
T received a lump-sum payment under an early retirement plan established in accordance with a collective-bargaining agreement between the ILWU and the PMA, an employers' association. The PMA collected the necessary funds from the employers and paid them over to a trust, which immediately distributed the benefits to the employees.
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T received a lump-sum payment under an early retirement plan established in accordance with a collective-bargaining agreement between the ILWU and the PMA, an employers' association. The PMA collected the necessary funds from the employers and paid them over to a trust, which immediately distributed the benefits to the employees. Held, the early retirement plan is not a qualified pension plan under sec. 401, I.R.C. 1954, because it is not funded, and the lump-sum payment is taxable as ordinary income.
1Opinion of the Court
Thomas Trebotich and Jeanne Trebotich, Petitioners v. Commissioner of Internal Revenue, Respondent
Trebotich v. Commissioner
Docket No. 3705-69
United States Tax Court
57 T.C. 326; 1971 U.S. Tax Ct. LEXIS 14;
December 9, 1971, Filed
Decision will be entered under Rule 50.
T received a lump-sum payment under an early retirement plan established in accordance with a collective-bargaining agreement between the ILWU and the PMA, an employers' association. The PMA collected the necessary funds from the employers and paid them over to a trust, which immediately distributed the benefits to the employees.…
2Cases cited19 opinions
- Stone v. WhiteSupreme Court of the United States · 1937
- Volkswagenwerk Aktiengesellschaft v. Federal Maritime CommissionSupreme Court of the United States · 1968
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Spring Canyon Coal Co. v. Commissioner of Int. Rev.Court of Appeals for the Tenth Circuit · 1930
- West Virginia Steel Corp. v. CommissionerUnited States Tax Court · 1960
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