Estate of Levin v. Commissioner
United States Tax Court
Approximately 1 month prior to the decedent's death, the directors of a corporation controlled by the decedent adopted a plan which provided for the payment of an annuity to the surviving spouses of corporate officers who met certain eligibility requirements and who died while in the employ of the corporation. The plan was subject to revocation at any time, except such revocation could not impact benefits which were in pay status.
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Approximately 1 month prior to the decedent's death, the directors of a corporation controlled by the decedent adopted a plan which provided for the payment of an annuity to the surviving spouses of corporate officers who met certain eligibility requirements and who died while in the employ of the corporation. The plan was subject to revocation at any time, except such revocation could not impact benefits which were in pay status. The decedent met the eligibility requirements of the plan and died while in the employ of the corporation. Upon the death of the decedent, the corporation became…
1Opinion of the Court
JACOBS, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $97,761.14. In addition, respondent determined a gift tax deficiency in the amount of $11,433.56 for the calendar quarter ended December 31, 1980, and an addition to tax pursuant to section 6651(a)(1)1 in the amount of $2,858.39. The deficiencies are premised on the theory that Stanton A. Levin (the decedent) made an inter vivos transfer or gift to his spouse of a post-mortem annuity payable by Marstan Industries, Inc. (Marstan), a corporation which he controlled, under its Officers’ Surviving…
2Cases cited14 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Fusz v. CommissionerUnited States Tax Court · 1966
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3Cited by2 opinions
- Estate of Frank v. CommissionerUnited States Tax Court · 1995
- Estate of Levin v. CommissionerUnited States Tax Court · 1988