Harold L. Ward and Estate of Virginia Palmer Ward, Deceased, Harold L. Ward v. Commissioner of Internal Revenue

Petitioner, Harold L. Ward, rendered services to a corporation throughout the years 1937-1947 under a contract which provided for payment of compensation contingent upon successful recovery and sale of timber lands in the redwood country of California, the legal title to which had been largely forfeited for non-payment of California property taxes. Under the contract the compensation was to be paid at a time when the corporation was in a financial position to pay him. The matter was brought to a successful conclusion in 1948. Further details are given in the Tax Court’s Findings of Fact,…