McCourt v. Commissioner
United States Tax Court
Under section 311 of the Internal Revenue Code petitioner is determined to have a personal liability under sections 3466 and 3467, Revised Statutes, for unpaid income and declared value excess-profits taxes of the Merchants Warehouse Co. by reason of his distribution of all of the assets of that company on liquidation without first satisfying its indebtedness for taxes due the United States.
1Opinion of the Court
OPINION.
Leech, Judge:
Section 3466 of the Revised Statutes provides in part:
Whenever any person indebted to the United States is insolvent, or whenever the estate of any deceased debtor, in the hands of the executors or administrators, is insufficient to pay all the debts due from the deceased, the debts due to the United States shall be first satisfied; * * *
Section 3467 of the Revised Statutes provides:
Every executor, administrator, or assignee, or other person, who pays, in whole or in part, any debt due by the person or estate for whom or for which he acts before he satisfies and pays the…
2Cases cited3 opinions
- Clement Gunn v. The United States of AmericaSupreme Court of the United States · 1926
- McKnight v. CommissionerUnited States Tax Court · 1947
- Combs v. CombsTennessee Supreme Court · 1914
3Cited by10 opinions
- Leuthesser v. CommissionerUnited States Tax Court · 1952
- New v. CommissionerUnited States Tax Court · 1967
- Grieb v. CommissionerUnited States Tax Court · 1961
- Estate of Frost v. CommissionerUnited States Tax Court · 1993
- Estate of Johnson v. CommissionerUnited States Tax Court · 1999
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