William F. Ricketts, Jr. And Jeanne G. Ricketts v. The United States

OPINION

LARAMORE, Judge.

This is a suit for refund of Federal income taxes paid for the year 1962 in the amount of. $3,471.44.

The facts have been stipulated and, in pertinent part, are as follows: Taxpayer, 1 a Reserve Air Force officer, was involuntarily released from active duty on June 30, 1962. As such, he was entitled to readjustment pay under section 265 of the Armed Forces Reserve Act of 1952, 66 Stat. 481, as amended by the Act of July 9, 1956, 70 .Stat. 517 (50 U.S.C. § 1016). Pursuant to these provisions, taxpayer received readjustment pay computed under the statutory formula of…