Estate of Leyman v. Commissioner
United States Tax Court
Held: (1) The value of 2,309 shares of common stock of Leyman Corporation on May 24, 1954, was $ 630 per share. (2) The executor of the estate of Harry Stoll Leyman willfully made a false or fraudulent estate tax return.
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Held: (1) The value of 2,309 shares of common stock of Leyman Corporation on May 24, 1954, was $ 630 per share. (2) The executor of the estate of Harry Stoll Leyman willfully made a false or fraudulent estate tax return. (3) The provisions of secs. 871(i), 894(a), and 3612(d), I.R.C. 1939, and not those of sec. 6653(b), I.R.C. 1954, govern the amount of addition to the tax in case a false or fraudulent estate tax return is willfully filed since the date of decedent's death was prior to the date of enactment of I.R.C. 1954. (4) The addition to the tax provided by I.R.C. 1939 in case a false or…
1Opinion of the Court
Scott, Judge:
Respondent determined a deficiency in estate tax and addition to tax under section 3612(d)(2) of the Internal Revenue Code of 1939 in the amounts of $1,804,228.98 and $1,930,350.45, respectively.
The issues for decision are:(1) What was the fair market value of 2,309 shares of Leyman Corp. common stock on May 24, 1954, the date of death of Harry Stoll Leyman.(2) Whether Harry S. Leyman, Jr., as executor of the estate of Harry Stoll Leyman, deceased, willfully filed a false and fraudulent estate tax return on behalf of the estate.(3) If a false and fraudulent estate tax return was…
2Cases cited26 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Helvering v. MitchellSupreme Court of the United States · 1938
- Halle v. CommissionerUnited States Tax Court · 1946
- Halle v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1949
- In Re ChapmanSupreme Court of the United States · 1897
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3Cited by30 opinions
- Estate of Mason v. CommissionerUnited States Tax Court · 1975
- Estate of Newhouse v. CommissionerUnited States Tax Court · 1990
- The Estate of Mary Frances Smith Bright, Deceased, by H. R. Bright, Independent v. United StatesCourt of Appeals for the Fifth Circuit · 1981
- Estate of Andrews v. CommissionerUnited States Tax Court · 1982
- American Lithofold Corp. v. CommissionerUnited States Tax Court · 1971
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