United States v. Drescher
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United States v. Drescher, 179 F.2d 863 (2nd Cir. 1950)[1] was a United States income tax case before the Second Circuit. The Court held as follows:
- The value of the employer-purchased annuities in question was taxable as part of taxpayer's gross income in the year in which the annuities were purchased.
- The annuities in question were nonassignable, and possession was retained by the employer until taxpayer reached age of retirement; and the employee's compensation was not reduced during these years, nor did he have election to receive in cash the amount paid.
Quick Facts United States v. Drescher, Court ...
United States v. Drescher | |
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Court | United States Court of Appeals for the Second Circuit |
Full case name | United States v. Drescher |
Argued | January 5, 1950 |
Decided | February 16, 1950 |
Citation(s) | 179 F.2d 863; 50-1 USTC (CCH) ¶ 9186 |
Case history | |
Prior history | 84 F. Supp. 228 (W.D.N.Y. 1949) |
Court membership | |
Judge(s) sitting | Learned Hand, Thomas Walter Swan, Charles Edward Clark |
Case opinions | |
Majority | Swan, joined by Hand |
Concur/dissent | Clark |
Laws applied | |
Internal Revenue Code |
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