Burwell v. Commissioner
United States Tax Court
Petitioner was a partner in a general partnership, which incorporated in 1976. Petitioner intended that the successor-corporation would not assume the partnership's ending liabilities. The corporation did not execute any agreement to assume these liabilities, nor did the partnership's creditors release their claims against the partnership or its partners. Petitioner remained personally liable on the partnership's outstanding obligations.
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Petitioner was a partner in a general partnership, which incorporated in 1976. Petitioner intended that the successor-corporation would not assume the partnership's ending liabilities. The corporation did not execute any agreement to assume these liabilities, nor did the partnership's creditors release their claims against the partnership or its partners. Petitioner remained personally liable on the partnership's outstanding obligations. In 1976, the corporation paid certain debts on behalf of petitioner, which had been incurred by the partnership. Held, respondent is not estopped from…
1Opinion of the Court
CLIFTON J. BURWELL AND GINETTE A. BURWELL, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Burwell v. Commissioner
Docket No. 6493-82.
United States Tax Court
T.C. Memo 1985-583; 1985 Tax Ct. Memo LEXIS 45; 51 T.C.M. (CCH) 6; T.C.M. (RIA) 85583;
December 2, 1985.
Petitioner was a partner in a general partnership, which incorporated in 1976. Petitioner intended that the successor-corporation would not assume the partnership's ending liabilities. The corporation did not execute any agreement to assume these liabilities, nor did the partnership's creditors release their claims against the…
2Cases cited12 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Old Colony Trust Co. v. CommissionerSupreme Court of the United States · 1929
- Enoch v. CommissionerUnited States Tax Court · 1972
- Dixie Dairies Corp. v. CommissionerUnited States Tax Court · 1980
- Underwood v. CommissionerUnited States Tax Court · 1975
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