Brooks v. Commissioner
United States Tax Court
Held, lump-sum payment received by P in return for his agreement to alter the method of computing pension benefits, to which he had no vested right, was ordinary income.
1Opinion of the Court
SIMPSON, Judge:
The Commissioner determined a deficiency of $2,122.80 in the petitioner’s Federal income tax for 1980. The issue for decision is whether the petitioner is required to report as ordinary income a payment that he received as an incentive to change the method of computing retirement and disability payments under his retirement plan.
FINDINGS OF FACT
Most of the facts have been stipulated, and those facts are so found.
The petitioner, Randy Brooks, maintained his legal residence in Lafayette, Indiana, at the time he filed his petition in this case. He filed his individual Federal…
2Cases cited4 opinions
- Ballard v. Board of Trustees of Police Pension FundIndiana Supreme Court · 1975
- John B. White, Inc. v. CommissionerUnited States Tax Court · 1971
- City of Greenwood v. SmithIndiana Court of Appeals · 1977
- John B. White, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1972
3Cited by1 opinion
- Brooks v. CommissionerUnited States Tax Court · 1987