Israel v. Commissioner
United States Tax Court
Petitioner's husband was the grantor of five trusts of which petitioner is the income benficiary. The grantor of the trusts directed that all or part of the income should be paid to petitioner in annual payments and that the balance, if any, should be accumulated for other beneficiaries who were minors at the time of any accumulation; and he directed the trustees to decide and notify petitioner, not later than January 5 following the end of the year of the trusts, of her…
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Petitioner's husband was the grantor of five trusts of which petitioner is the income benficiary. The grantor of the trusts directed that all or part of the income should be paid to petitioner in annual payments and that the balance, if any, should be accumulated for other beneficiaries who were minors at the time of any accumulation; and he directed the trustees to decide and notify petitioner, not later than January 5 following the end of the year of the trusts, of her share of the trust income. The trustees gave the required notice to petitioner on January 3, 1944, but they did not make…
1Opinion of the Court
OPINION.
Hakkon, Judge:
The question presented by the pleadings arises under subsection (d) (8) (A) of section 162 of the Internal Revenue Code,2 which was added to the code by section 111 (c) of the 1942 Revenue Act, and is applicable to years beginning after December 31, 1941. The subsection sets forth a rule to be followed in the application of subsections (b) and (c) of section 162.
The deficiency determined by the respondent is for the year 1943, and results from the inclusion in the income of petitioner of part of the 1943 income of five trusts. Petitioner was notified by a trustee of each…
2Cases cited3 opinions
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Green v. CommissionerUnited States Tax Court · 1946
- In Re Coleman's EstateSupreme Court of Oklahoma · 1936
3Cited by6 opinions
- Hanover Bank v. CommissionerUnited States Tax Court · 1963
- Hanover Bank v. CommissionerUnited States Tax Court · 1963
- Hanover Bank v. CommissionerUnited States Tax Court · 1963
- Israel v. CommissionerUnited States Tax Court · 1948
- Ryan v. CommissionerUnited States Tax Court · 1949
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