(Leslie) and Mattie J. Foster (Mattie), Charles W. Payne
(Charles) and Carole B. Payne (Carole), and Wayne G. Smith
(Wayne) and Marie Smith (Marie):
Docket No. Deficiency
Leslie and Mattie Foster 19932-94 $16,303
Charles and Carole Payne 19934-94 $13,670
Wayne and Marie Smith 10669-95 $9,675
These consolidated cases are before us on respondent's
motion for summary judgment under Rule 121.3 The issue for
consideration is whether petitioners may exclude from gross
income, under section 104(a)(2), amounts received from their
employer in consideration for signing a general release
agreement.
The disposition of a motion for summary judgment under Rule
121 is controlled by the following principles: (1) The moving
party must show the absence of dispute as to any material fact
and that a decision may be rendered as a matter of law; (2) the
factual materials and the inferences to be drawn from them must
be viewed in the light most favorable to the party opposing the
motion; and (3) the party opposing the motion cannot rest upon
mere allegations or denials, but must set forth specific facts
showing there is a genuine issue for trial. Rule 121; Brotman v.
Commissioner, 105 T.C. 141 (1995).
3 Unless otherwise indicated, all statutory references are to the
Internal Revenue Code in effect for the year in issue, and all
Rule references are to the Tax Court Rules of Practice and
Procedure.
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