Reizenstein v. Commissioner
United States Tax Court
Trust Income -- Taxable to Grantor -- Parol Trust -- Secs. 22 (a), 166, and 167, I. R. C. -- The record fails to establish that there were provisions of a parol trust for a minor son stated by the petitioner and understood by his wife as trustee which would relieve him of tax on the income of the trust.
1Opinion of the Court
OPINION.
Murdock, Judges
The Commissioner has held that the income of the trust is taxable to the petitioner because the petitioner retained so much control over the trust that he remained for practical purposes the owner of its income within the meaning of section 22 (a) and Helvering v. Clifford, 309 U. S. 331 (see also Commissioner v. Buck, 120 F. 2d 775, and Brown v. Commissioner, 131 F. 2d 640, certiorari denied 318 U. S. 767); the trust was revocable and the income is taxable to the petitioner under section 166; or the petitioner could cause the income to be distributed to him and it is…
2Cases cited5 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Helvering v. CliffordSupreme Court of the United States · 1940
- Commissioner of Internal Revenue v. BuckCourt of Appeals for the Second Circuit · 1941
- Brown v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1942
- Moskin v. JohnsonDistrict Court, S.D. New York · 1953
3Cited by4 opinions
- Bibby v. CommissionerUnited States Tax Court · 1965
- Bibby v. CommissionerUnited States Tax Court · 1965
- Paster v. CommissionerUnited States Tax Court · 1961
- Reizenstein v. CommissionerUnited States Tax Court · 1954