Federal Tax Case
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...Armed Forces. Treasury Regulation 1.112-1(b)(4) confirms this reading of section 112 by stating that Compensation received... Willow Road, Huston TEL: 06782 4367 1st July, 1999 Waterman, Willow Road, Huston, Cambridge shire, Cb31 3rr Dear Mr. Waterman RE: Waterman, Petitioner-Appellant V. Commissioner of Internal Revenue, Respondent-Appellate We refer to the above matter and to the meeting at our offices on 4th June, 1999. In this case, both the United States Tax Court and the Fourth Circuit Court of Appeals determined that you could not exclude from income an early separation payment you received from the United States Navy. You had excluded the payment under section 112 of the IRS as compensation...