Gordon v. Commissioner
United States Tax Court
G, the president of a company maintaining a deferred compensation profit-sharing plan for its employees, resigned as president on Dec. 15, 1978, and in March 1979, the company was sold. In March 1980, the plan trustee was requested by G to make a lump-sum distribution of his interest in the plan, citing total disability as the grounds therefor. G for some time had suffered from arteriosclerotic heart disease, angina, and hypertension.
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G, the president of a company maintaining a deferred compensation profit-sharing plan for its employees, resigned as president on Dec. 15, 1978, and in March 1979, the company was sold. In March 1980, the plan trustee was requested by G to make a lump-sum distribution of his interest in the plan, citing total disability as the grounds therefor. G for some time had suffered from arteriosclerotic heart disease, angina, and hypertension. Held, (1) without clear indicia to the contrary, a deferred compensation profit-sharing plan is not ordinarily a dual purpose plan intended to provide both…
1Opinion of the Court
OPINION
NlMS, Judge:
Respondent determined a deficiency in petitioners’ 1980 Federal income tax in the amount of $19,626. After a concession by petitioners the only issue remaining for decision is whether petitioners may exclude, under section 105(c),1 a $102,098 lump-sum distribution to petitioner George H. Gordon (sometimes herein called petitioner or Gordon) from the United Baking Co. Profit-Sharing Plan and Trust.
All of the facts have been stipulated and are so found.
Petitioners resided in Pittsburgh, Pennsylvania, when their petition was filed.
Gordon was born on August 26, 1921. In 1956,…
2Cases cited17 opinions
- Estate of Lang v. CommissionerUnited States Tax Court · 1975
- The Estate of Grace E. Lang, Deceased. Richard E. Lang v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1980
- Commissioner v. MunterSupreme Court of the United States · 1947
- American Foundry, a Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1976
- American Foundry v. CommissionerUnited States Tax Court · 1972
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3Cited by24 opinions
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- Anderson v. Comm'rUnited States Tax Court · 2004
- Rath v. CommissionerUnited States Tax Court · 1993
- Lucky Stores v. CommissionerUnited States Tax Court · 1996
- Nielson-True Pshp. v. CommissionerUnited States Tax Court · 1997
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