United States Federal Circuit

In taxpayers' claim for a federal income tax refund, the U.S. Court of Federal Claims' grant of summary judgment in favor of the government is affirmed where under the constructive receipt regulation, Treas. Reg. section 1.451-2, petitioner constructively received all shares of stock allocated to him for the sale of Ernst & Young LLP's consulting business in 2000, because under petitioner's own agreement: 1) the shares were set aside for him in a brokerage account; 2) he received dividends from and was entitled to vote the shares in the year 2000; and 3) exercised control over his receipt of the shares under the forfeiture provisions of the Partner Agreement.

Appellate Information

• Decided 09/10/2012
• Published 09/10/2012

Judges

• Dyk

Court

• United States Federal Circuit

Counsel