Fusz v. Commissioner
United States Tax Court
Decedent's contract of employment provided for a salary payable to him and monthly payments to his widow for her life if he died during the term of the contract. Neither decedent nor anyone other than the widow at any time received or was entitled to receive any post-employment benefits. Respondent included the commuted value of the payments to the widow in decedent's gross estate.
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Decedent's contract of employment provided for a salary payable to him and monthly payments to his widow for her life if he died during the term of the contract. Neither decedent nor anyone other than the widow at any time received or was entitled to receive any post-employment benefits. Respondent included the commuted value of the payments to the widow in decedent's gross estate. Held, the salary payments to the decedent did not constitute "an annuity or other payment," and the value of the payments to the widow is not includable in decedent's gross estate under section 2039(a), I.R.C. 1954.
1Opinion of the Court
Tannenwald, Judge:
Respondent determined a deficiency in estate tax in the amount of $5,577.34.
The only issue is whether the commuted value of payments required to be made to decedent’s widow by his employer is includable in decedent’s gross estate by reason of section 2039 of the Internal Revenue Code of 1954.
FINDINGS OF FACT
Some facts are stipulated and are found accordingly.
Firmin D. Fusz (hereinafter referred to as decedent), a resident of St. Louis County, Mo., died testate on May 14,1960. Letters testamentary were issued on May 21,1960, to his widow, Catherine C. Fusz, and Boatmen’s…
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