- 2 -
Respondent determined Federal income tax deficiencies for
petitioners’ 1997 and 1998 taxable years in the amounts of $898
and $30,008, respectively. Respondent also determined an
accuracy-related penalty in accordance with section 6662(a) of
$3,793 for 1998. After concessions by petitioners, the sole
issue for decision is whether a $30,000 payment received by
petitioner Wally O. Oyelola (also known as Oluwole Oyelola and
hereinafter Mr. Oyelola) is excludable from gross income under
section 104(a).
Background
Some of the facts have been stipulated and are so found.
The stipulations of the parties, with accompanying exhibits, are
incorporated herein by this reference. At the time the petition
was filed in this case, petitioners resided in Tolland,
Connecticut.
Mr. Oyelola began working for Connecticut Mutual Life
Insurance Company in December of 1989. On May 13, 1996, Mr.
Oyelola filed a racial discrimination complaint against
Connecticut Mutual Life Insurance Company with the Connecticut
Commission on Human Rights and Opportunities. This complaint was
amended on August 5, 1996, but was ultimately dismissed because
it was not filed within 180 days of the alleged unlawful
employment practices.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011