Bingham v. Commissioner
United States Tax Court
Transferee Liability -- Beneficiary of Life Insurance. -- The petitioner received proceeds of insurance as the beneficiary of policies on the life of her deceased husband. The laws of North Carolina exempt such proceeds from claims of creditors of the deceased husband in the absence of payment of premiums with intent to defraud creditors.
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Transferee Liability -- Beneficiary of Life Insurance. -- The petitioner received proceeds of insurance as the beneficiary of policies on the life of her deceased husband. The laws of North Carolina exempt such proceeds from claims of creditors of the deceased husband in the absence of payment of premiums with intent to defraud creditors. There being no showing that any premiums were paid with intent to defraud creditors, it is held that the petitioner is not liable as a transferee for income taxes owed by decedent. Commissioner v. Stern, 357 U.S. 39, followed.
1Opinion of the Court
OPINION.
Atkins, Judge:
The respondent determined that the petitioner is liable, to the extent of $10,175.29, as transferee of assets of her deceased husband, Irving W. Bingham, for deficiencies in income taxes and additions thereto (with interest thereon) determined against him for the calendar years 1945 to 1951, inclusive, as follows:
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It has been stipulated that these were the correct amounts of unpaid deficiencies at the time of the decedent’s death.
The amount of $10,175.29 determined by the respondent as the petitioner’s liability as transferee represents the amount received…
2Cases cited5 opinions
- United States v. BessSupreme Court of the United States · 1958
- Commissioner v. SternSupreme Court of the United States · 1958
- Building and Loan Association v. . SwaimSupreme Court of North Carolina · 1929
- Hampton v. CommissionerUnited States Tax Court · 1958
- Myers v. CommissionerUnited States Tax Court · 1958
3Cited by2 opinions
- Bingham v. CommissionerUnited States Tax Court · 1958
- Di Zenzo v. CommissionerUnited States Tax Court · 1964