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Irvine K. Furman and Lorena K. Furman v. Commissioner of Internal Revenue

U.S. Court of Appeals for the Fifth Circuit
Irvine K. Furman and Lorena K. Furman v. Commissioner of Internal Revenue, 381 F.2d 22 (5th Cir. 1967)
20 A.F.T.R.2d (RIA) 5244; 1967 U.S. App. LEXIS 5475
Phillips, Coleman, Simpson

Irvine K. Furman and Lorena K. Furman v. Commissioner of Internal Revenue

Opinion

PER CURIAM.

This case involves the validity for federal income tax purposes of a so-called “Clifford Type Trust”. 1 The Tax Court in a decision reported at 45 T.C. 360, found upon undisputed and almost entirely stipulated facts that the Trust lacked “economic reality”, and should not be recognized for tax purposes. For the reasons given and upon the authorities cited by the Tax Court, we affirm. ,See Van Zandt v. Commissioner of Internal Revenue, 5 Cir. 1965, 341 F.2d 440, certiorari denied, 382 U.S. 814, 86 S.Ct. 32, 15 L.Ed.2d 62. Compare, Skemp v. Commissioner of Internal Revenue, 7 Cir. 1948, 168 F.2d 598.

Affirmed.

1

. See Helvering v. Clifford, 309 U.S. 331, 60 S.Ct. 554, 84 L.Ed. 788; and Internal Revenue Code of 1954, Secs. 671-678 (26 U.S.C. 1964 Ed., Secs. 671-678).

Reference

Full Case Name
Irvine K. FURMAN and Lorena K. Furman, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Cited By
85 cases
Status
Published
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