- 8 - employment with Conseco, the amounts of his renewal commission payments were calculated based upon the old premiums, and the new agent assigned to this client would receive the benefit for the increase in the premiums. This appears to be the only difference, as to the calculation of the amounts of the renewal commission payments, between the renewal commission payments received before termination of petitioner’s employment with Conseco and the renewal commission payments received post- termination. As previously stated, petitioner continues to receive commission compensation from renewal policies with Conseco. The renewal commission payments are disbursed per the Marketing Agreement without regard to whether petitioner is still employed by Conseco. Petitioner received the same renewal commission payments during his employment with Conseco and paid self- employment tax on those payments. Also, the renewal commission payments are based on actual renewals of policies with Conseco during the year for which the payments are received. The renewal commission payments received by petitioner during the taxable years 2000 and 2001 were in no way an annuity or estimated payments. Since petitioner’s termination in October 2000, petitioner has not received renewal commission payments from any policy that was sold after 1997. Petitioner has never received any renewal commission payments from his final year with Conseco,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