Wilkins v. Commissioner
United States Tax Court
Held, a distribution to petitioner from a qualified profit-sharing trust of a corporation, which was made at the request of a union representing hourly employees in labor negotiations and pursuant to an amendment of the trust on Aug. 23, 1966, effective as of Aug. 31, 1966, is taxable to petitioner as ordinary income and not as long-term capital gain since the fact that petitioner and other hourly employees of the corporation were on strike from June 1, 1966, to Aug. 4,…
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Held, a distribution to petitioner from a qualified profit-sharing trust of a corporation, which was made at the request of a union representing hourly employees in labor negotiations and pursuant to an amendment of the trust on Aug. 23, 1966, effective as of Aug. 31, 1966, is taxable to petitioner as ordinary income and not as long-term capital gain since the fact that petitioner and other hourly employees of the corporation were on strike from June 1, 1966, to Aug. 4, 1966, was not a "separation from the service" of the corporation by petitioner and even were petitioner to be considered to…
1Opinion of the Court
Ford E. Wilkins, Petitioner v. Commissioner of Internal Revenue, Respondent
Wilkins v. Commissioner
Docket No. 1848-69SC
United States Tax Court
54 T.C. 362; 1970 U.S. Tax Ct. LEXIS 201;
February 26, 1970, Filed
Decision will be entered for the respondent.
Held, a distribution to petitioner from a qualified profit-sharing trust of a corporation, which was made at the request of a union representing hourly employees in labor negotiations and pursuant to an amendment of the trust on Aug. 23, 1966, effective as of Aug. 31, 1966, is taxable to petitioner as ordinary income and not as long-term capital…
2Cases cited9 opinions
- United States v. Ophelia Johnson and Ophelia R. Johnson, as Under the Last Will and Testament of Clifford L. Johnson, DeceasedCourt of Appeals for the Fifth Circuit · 1964
- Glinske v. CommissionerUnited States Tax Court · 1951
- Fry v. CommissionerUnited States Tax Court · 1952
- Fry's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1953
- E. N. Funkhouser and Estate of Nellie S. Funkhouser, Deceased, E. N. Funkhouser v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1967
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