Offutt v. Commissioner
United States Tax Court
Held: $5,000 annual payments received by petitioner from the Trustees under the will of her deceased husband, pursuant to a prenuptial agreement as modified by a settlement agreement entered into after her husband's death, are taxable income to petitioner to the extent paid out of income of the trust estate. Alice M. Townsend, 12 T.C. 692, affd. 181 Fed.
Read the full summary
Held: $5,000 annual payments received by petitioner from the Trustees under the will of her deceased husband, pursuant to a prenuptial agreement as modified by a settlement agreement entered into after her husband's death, are taxable income to petitioner to the extent paid out of income of the trust estate. Alice M. Townsend, 12 T.C. 692, affd. 181 Fed. (2d) 502 (C.A. 6). Held: In the absence of evidence showing reasonable cause for petitioner's failure to file a return for 1953, respondent's imposition of the addition to tax under section 291(a) is sustained.
1Opinion of the Court
Kay Offutt v. Commissioner.
Offutt v. Commissioner
Docket No. 65350.
United States Tax Court
T.C. Memo 1959-27; 1959 Tax Ct. Memo LEXIS 223; 18 T.C.M. (CCH) 128; T.C.M. (RIA) 59027;
February 11, 1959
Held: $5,000 annual payments received by petitioner from the Trustees under the will of her deceased husband, pursuant to a prenuptial agreement as modified by a settlement agreement entered into after her husband's death, are taxable income to petitioner to the extent paid out of income of the trust estate. Alice M. Townsend, 12 T.C. 692, affd. 181 Fed. (2d) 502 (C.A. 6).
Held: In the absence of…
2Cases cited8 opinions
- Lyeth v. HoeySupreme Court of the United States · 1938
- Commissioner v. WemyssSupreme Court of the United States · 1945
- Merrill v. FahsSupreme Court of the United States · 1945
- Burnet v. WhitehouseSupreme Court of the United States · 1931
- Milleg v. CommissionerUnited States Tax Court · 1952
3 more not listed; retrieve them via the Exa API.