Yoakum v. Commissioner
United States Tax Court
P claimed a deduction for certain payments made to his former spouse under the terms of their divorce decree. Held, such payments were "installment payments discharging a part of an obligation the principal sum of which is * * * specified in the decree," under sec. 71(c)(1), I.R.C. 1954, and were therefore not "periodic payments," as required by sec. 71(a), I.R.C. 1954. Held, further: The exception to sec. 71(c)(1), I.R.C. 1954, found in sec. 1.71-1(d)(3)(i) and (ii), Income…
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P claimed a deduction for certain payments made to his former spouse under the terms of their divorce decree. Held, such payments were "installment payments discharging a part of an obligation the principal sum of which is * * * specified in the decree," under sec. 71(c)(1), I.R.C. 1954, and were therefore not "periodic payments," as required by sec. 71(a), I.R.C. 1954. Held, further: The exception to sec. 71(c)(1), I.R.C. 1954, found in sec. 1.71-1(d)(3)(i) and (ii), Income Tax Regs., is not applicable to this case. Since the Oklahoma trial courts lack the power to modify, alter, or amend a…
1Opinion of the Court
Jack R. Yoakum, Petitioner v. Commissioner of Internal Revenue, Respondent
Yoakum v. Commissioner
Docket No. 2045-80
United States Tax Court
82 T.C. 128; 1984 U.S. Tax Ct. LEXIS 117; 82 T.C. No. 12;
January 23, 1984, Filed
Decision will be entered for the respondent.
P claimed a deduction for certain payments made to his former spouse under the terms of their divorce decree. Held, such payments were "installment payments discharging a part of an obligation the principal sum of which is * * * specified in the decree," under sec. 71(c)(1), I.R.C. 1954, and were therefore not "periodic payments," as…
2Cases cited19 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Thompson v. CommissionerUnited States Tax Court · 1968
- Shea v. SheaSupreme Court of Oklahoma · 1975
- Collins v. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1968
- Gammill v. CommissionerUnited States Tax Court · 1980
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