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

Fifth Circuit

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

381 F.2d 22, 20 A.F.T.R.2d (RIA) 5244, 1967 U.S. App. LEXIS 5475

Court of Appeals for the Fifth Circuit·Decided July 27, 1967·No. 23755·Published·Cited by 85 cases

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).

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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).

Irvine K. Furman and Lorena K. Furman v. Commissioner of Internal Revenue, 381 F.2d 22, 20 A.F.T.R.2d (RIA) 5244, 1967 U.S. App. LEXIS 5475 (5th Cir. 1967).

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381 F.2d 22 (Irvine K. Furman and Lorena K. Furman v. Commissioner of Internal Revenue) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

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