Wilson v. Commissioner
United States Board of Tax Appeals
Petitioner's decedent, a teacher employed by the board of education of New York City, contributed to the teachers' retirement fund by amounts deducted from his salary.
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Petitioner's decedent, a teacher employed by the board of education of New York City, contributed to the teachers' retirement fund by amounts deducted from his salary. He had a right, upon resignation or dismissal, or after retirement upon pension (to which right he was prior to death entitled because of term of service, but did not exercise), to withdraw the contributed funds and interest thereon, though he had named his wife as beneficiary to receive payment in case of his death prior to such retirement upon pension. Held, that the funds payable to the wife after death are not insurance,…
1Opinion of the Court
*1198OPINION.
Disney :
The petitioner contends that the sum of $4,517.01, payable to the decedent’s wife in monthly installments was erroneously included by the Commissioner in decedent’s estate because it was insurance within the intent of section 302 (g) of the Revenue Act of 1926, as amended.1
The respondent’s position is that the amount is not insurance, but was properly included in decedent’s gross estate and was transferred from the decedent to his wife within the meaning of section 302 (©) or (d) of the Revenue Act,of 1926, as amended.2
Examination of the circumstances and provisions under…
2Cases cited5 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Corliss v. BowersSupreme Court of the United States · 1930
- Lyeth v. HoeySupreme Court of the United States · 1938
- In re the Estate of FitzsimmonsNew York Surrogate's Court · 1936
- In re the Estate Tax On the Estate of FitzsimmonsAppellate Division of the Supreme Court of the State of New York · 1936
3Cited by5 opinions
- Hanner v. GlennDistrict Court, W.D. Kentucky · 1953
- Bank of New York v. United StatesDistrict Court, S.D. New York · 1970
- Knight v. FinneganDistrict Court, E.D. Missouri · 1947
- Estate of Benton Louis Snyder, Corn Exch. Bank Trust Co. v. CommissionerUnited States Tax Court · 1945
- Wilson v. CommissionerUnited States Board of Tax Appeals · 1940