Estate of Maycann v. Commissioner
United States Tax Court
A payment of $ 5,000 by a corporation to the widow of the deceased president of the corporation, held, to be a gift, excludible from gross income, rather than a dividend or compensation paid for past services rendered by the deceased president.
1Opinion of the Court
Estate of John A. Maycann, Sr., Deceased, Berenice W. Maycann and Hamilton National Bank of Chattanooga, Executors, and Berenice W. Maycann, Surviving Wife, Petitioners, v. Commissioner of Internal Revenue, Respondent
Estate of Maycann v. Commissioner
Docket No. 54600
United States Tax Court
29 T.C. 81; 1957 U.S. Tax Ct. LEXIS 59;
October 22, 1957, Filed
Decision will be entered under Rule 50.
A payment of $ 5,000 by a corporation to the widow of the deceased president of the corporation, held, to be a gift, excludible from gross income, rather than a dividend or compensation paid for past services…
2Cases cited5 opinions
- Bogardus v. CommissionerSupreme Court of the United States · 1937
- Ruth T. Lengsfield, Coralie Mayer Lengsfield and Blanche L. Brown v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Estate of Hellstrom v. CommissionerUnited States Tax Court · 1955
- Estate of Maycann v. CommissionerUnited States Tax Court · 1957
- Brayton v. WelchDistrict Court, D. Massachusetts · 1941