Leach v. Commissioner
United States Board of Tax Appeals
ESTATE TAX - DEDUCTIONS BY BENEFICIARY - RECOUPMENT BY REFUND - METHOD OF ACCOUNTING. - Petitioner, the residuary legatee of an estate of a decedent who died in 1918 and upon which the estate tax was due in 1919, paid in 1922 a deficiency in estate tax finally determined in that year.
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ESTATE TAX - DEDUCTIONS BY BENEFICIARY - RECOUPMENT BY REFUND - METHOD OF ACCOUNTING. - Petitioner, the residuary legatee of an estate of a decedent who died in 1918 and upon which the estate tax was due in 1919, paid in 1922 a deficiency in estate tax finally determined in that year. Subsequently, as a result of suit and judgment the greater part of the sum paid was refunded, with interest, by the Government, this refund being subsequent to 1922, but prior to the hearing on the appeal. Upon the facts, held that petitioner was on a cash basis and is entitled to credit in the year 1922 for any…
1Opinion of the Court
*782OPINION.
Teussell :
William E. Walker, petitioner’s decedent, died on November 9,1918. Sections 204 of the Revenue Act of 1916 and 406 of *783the Revenue Act of 1918 provide that estate taxes “ shall be due one 'year after decedent’s death ” and section 214 of the Revenue Act of 1921 provides:(a) That in computing net income there shall be allowed as deductions: * * ⅜ (3) Taxes paid or accrued within the taxable year except (a) income, war-profits, and excess-profits taxes imposed by authority of the United States * * ⅜. Eor the purpose of this paragraph estate, inheritance, legacy, and succession…
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