Darby v. Commissioner
United States Tax Court
When petitioner (H) was divorced from his former wife (W), in 1976, H was a fully vested participant in his employer's tax-qualified profit-sharing plan. The divorce decree ordered H to pay $ 75,000 to W, about half of the value of H's interest in the plan at that time.
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When petitioner (H) was divorced from his former wife (W), in 1976, H was a fully vested participant in his employer's tax-qualified profit-sharing plan. The divorce decree ordered H to pay $ 75,000 to W, about half of the value of H's interest in the plan at that time. The decree ordered H to pay the $ 75,000 at the rate of $ 60 per week until (1) it was all paid, or (2) H died or retired (in which event the balance was due as a lump sum). The decree also ordered H to assign to W that portion of H's interest in the plan needed to satisfy H's obligation to W; H made the assignment. H retired…
1Opinion of the Court
CHABOT, Judge:
Respondent determined a deficiency in Federal individual income tax against petitioner for 1983 in the amount of $19,056.58.
After a concession by petitioner,1 the issues for decision are as follows:(1) Whether petitioner properly excluded from income the portion of a lump-sum distribution he received from his employer’s profit-sharing plan, which he paid to his former wife pursuant to a court order, on the basis that she (and not he) was the distributee for purposes of section 402(a)(1)2 for that portion of the distribution.(2) Alternatively, whether all or any portion of the…
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- J. C. Penney Company, Transferee v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- J. C. Penney Co. v. CommissionerUnited States Tax Court · 1962
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