About: United States v. Drescher

United States v. Drescher, 179 F.2d 863 (2nd Cir. 1950) was a United States income tax case before the Second Circuit. The Court held as follows: * The value of the employer-purchased annuities in question was as part of taxpayer's gross income in the year in which the annuities were purchased. * The annuities in question were nonassignable, and possession was retained by the employer until taxpayer reached age of retirement; and the employee's compensation was not reduced during these years, nor did he have election to receive in cash the amount paid.