Blum v. Higgins

BRIGHT, District Judge.

This suit is to recover a refund of income taxes paid by plaintiff in part upon the difference between the face amount of two endowment policies of life insurance, which matured in 1936, and the total premiums paid thereon.

The facts are stipulated. On August 4, 1921, the two policies were issued to plaintiff upon his life and they matured on August 4, 1936, in the sum of $150,000. During their term he paid $133,723.50 in premiums. He reported the excess — $16,-276.50 — in his return for 1936, and paid his tax thereon and upon his other income in 1937. On February 20,…