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eBook details

• Title: Wolpaw V. Commissioner Of Internal Revenue
• Author : Sixth Circuit U.S. Court of Appeals
• Release Date : January 17, 1995
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 70 KB

Description

BOYCE F. MARTIN, JR., Circuit Judge. Daniel and Theresa Wolpaw appeal a Tax Court decision requiring them to include in gross income the value of tuition waivers for Theresa Wolpaw's medical school education at Case Western Reserve University. 66 T.C.M. (CCH) P 49,164(M) (No. 1993-322). The Tax Court reached its decision by interpreting Section 1853(f)(3)(A) of the Tax Reform Act of 1986, Pub. L. No. 99-514, 100 Stat. 2085, 2872 (Oct. 22, 1986) (codified at 26 U.S.C. § 117 (note) (1988)). Section 1853(f)(3) allows a taxpayer to exclude the value of a tuition waiver for graduate-level study if such waiver would have been excludable under the tax regulations in existence on July 18, 1984, the effective date of the Deficit Reduction Act of 1984, Pub. L. No. 98-369, 98 Stat. 494 (July 18, 1984). We believe that the tuition waivers benefiting Theresa Wolpaw were excludable from gross income as "scholarships" under the relevant tax statute and regulations in effect on July 18, 1984. Therefore, we REVERSE the decision of the Tax Court and REMAND the case for recomputation of the taxes due.

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