Read v. Commissioner
United States Tax Court
W and H, who were married, owned all of the voting, and virtually all of the nonvoting, stock of X corporation (X). They divorced, and the final judgment dissolving their marriage (divorce judgment) ordered (1) that W sell and convey to H, or at H's election to X or X's ESOP plan, all of her X stock, (2) that H, or at H's election X or X's ESOP plan, pay a stated amount of cash to W simultaneously with the sale and conveyance of such stock, and (3) that as additional…
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W and H, who were married, owned all of the voting, and virtually all of the nonvoting, stock of X corporation (X). They divorced, and the final judgment dissolving their marriage (divorce judgment) ordered (1) that W sell and convey to H, or at H's election to X or X's ESOP plan, all of her X stock, (2) that H, or at H's election X or X's ESOP plan, pay a stated amount of cash to W simultaneously with the sale and conveyance of such stock, and (3) that as additional consideration H, or at H's election X or X's ESOP plan, deliver to W a promissory note bearing 9-percent interest for the…
1DissentBeghe, J.
As a long-time continuing proponent of the view that the “on behalf of” standard of Q&A-9 applying section 1041 should be equated with the “primary and unconditional obligation” standard of traditional redemption tax law, see Arnes v. Commissioner, 102 T.C. 522, 531-542 (1994) (Beghe, J., concurring); Blatt v. Commissioner, 102 T.C. 77, 85-86 (1994) (Beghe, J., concurring), I have joined the dissenting opinions of Judges Ruwe and Halpern. However, I write on to express my own views of how the cases of Mr. and Ms. Read should be decided and to try to provide some perspective on the variety of…
2Cases cited17 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Enoch v. CommissionerUnited States Tax Court · 1972
- Richard M. Baptiste, Transferee v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1994
- Maher v. CommissionerUnited States Tax Court · 1970
- Kobacker v. CommissionerUnited States Tax Court · 1962
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