Schlegel v. Commissioner
United States Tax Court
In January 1959 Worthington purchased all of the shares of Annin and in May 1959 Annin was liquidated into Worthington. At the latter time, petitioner's employment was changed from Annin to Worthington. In June 1959 Worthington adopted Annin's qualified profit-sharing plan and subsequently took certain actions with respect thereto, including making amendments and a contribution.
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In January 1959 Worthington purchased all of the shares of Annin and in May 1959 Annin was liquidated into Worthington. At the latter time, petitioner's employment was changed from Annin to Worthington. In June 1959 Worthington adopted Annin's qualified profit-sharing plan and subsequently took certain actions with respect thereto, including making amendments and a contribution. On January 20, 1960, the plan was terminated, and thereafter a lump-sum distribution was made to petitioner. Held, the distribution to petitioner was not made "on account of * * * separation from the service" and is…
1Opinion of the Court
Tannenwald, Judge:
Respondent determined a deficiency in petitioners’ 1960 Federal income tax in the amount of $702.52. The sole issue is the proper tax treatment of a distribution to petitioner from a corporate profit-sharing plan.
FINDINGS OF FACT
Some of the facts are stipulated and are found accordingly.
Petitioners reside at La Mirada, Calif. They filed a joint Federal income tax return for 1960 with the district director of internal revenue, Los Angeles, Calif. Norah Schlegel is a petitioner herein only by reason of having joined in the 1960 return. Any reference herein to petitioner shall…
2Cases cited12 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
- Miller v. CommissionerUnited States Tax Court · 1954
- Glinske v. CommissionerUnited States Tax Court · 1951
- United States v. Ben Martin and Rachel T. MartinCourt of Appeals for the Eighth Circuit · 1964
- Funkhouser v. CommissionerUnited States Tax Court · 1965
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