Furman v. Commissioner of Internal Revenue

5th Cir.

Court: United States Court of Appeals for the Fifth Circuit

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

Decision Date: 7/27/1967

Docket Number: No. 23755

Jurisdiction: U.S.

Bluebook Citation: 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)

More Cases: 5th Cir. decisions from 1967

Irvine K. FURMAN and Lorena K. Furman, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

Attorneys

Frank C. Decker, Samuel L. Payne, Jacksonville, Fla., for petitioners.
Mitchell Rogovin, Asst. Atty. Gen., Richard M. Roberts, Acting Asst. Atty. Gen., Lee A. Jackson, Gilbert E. Andrews, Donald W. Williamson, Jr., Attys., Dept. of Justice, Lester R. Uretz, Chief Counsel, I. R. S., Christopher J. Ray, Atty., I. R. S., Washington, D. C., for respondent.

majority PER CURIAM.

This case involves the validity for federal income tax purposes of a so-called “Clifford Type Trust”. 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.

. 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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