Equitable Life Assurance Soc. v. Commissioner
United States Tax Court
On the date of a decedent's death, petitioner-insurer held insurance proceeds which were includible in the decedent's gross estate under section 811 (g) of the Internal Revenue Code. The decedent had made provision that the proceeds of the insurance should be paid to the beneficiaries in installments on the happening of certain contingencies. Held, that petitioner-insurer is not a transferee or trustee within the meaning of section 827 (b) of the Internal Revenue Code.
1Opinion of the Court
OPINION.
Hill, Judge:
The issue before us, as framed by the parties, is whether under section 827 (b) of the Internal Eevenue Code the petitioner-insurer is liable for any part of unpaid estate tax as an alleged “transferee or trustee” of life insurance proceeds includible in decedent’s gross estate under section 811 (g) of the Internal Eevenue Code.
Section 827 reads as follows:
SEO. 827. LIEN FOR TAX.(b) Liability of Transferee, Etc. — If the tax herein imposed is not paid when due, then the spouse, transferee, trustee, surviving tenant, person in possession of the property by reason of the…
2Cases cited1 opinion
- John Hancock Mut. Life Ins. Co. v. HelveringCourt of Appeals for the D.C. Circuit · 1942
3Cited by9 opinions
- Englert v. CommissionerUnited States Tax Court · 1959
- Armstrong v. CommissionerUnited States Tax Court · 2000
- Occidental Life Ins. Co. v. CommissionerUnited States Tax Court · 1968
- Garrett v. CommissionerUnited States Tax Court · 1994
- Armstrong v. CommissionerUnited States Tax Court · 2000
4 more not listed; retrieve them via the Exa API.