Bausch v. Commissioner
United States Tax Court
Edward Bausch and William Bausch had for about 50 years served the Bausch & Lomb Optical Company of Rochester, New York, in important capacities. They both died on different dates in 1944 and and each was receiving at the time of his death $ 1,500 a month. Each was a widower.
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Edward Bausch and William Bausch had for about 50 years served the Bausch & Lomb Optical Company of Rochester, New York, in important capacities. They both died on different dates in 1944 and and each was receiving at the time of his death $ 1,500 a month. Each was a widower. After the death of each and without any enforceable obligation, the corporation paid to the estate of each decedent the same salary for a period of 12 months that decedent had been drawing at the time of his death. Held, such part of the payments made to the estates in the taxable year represented taxable income to the…
1Opinion of the Court
OPINION.
Black, Judge:
So far as we can see there is no real controversy between the parties as to the facts in the instant case. The controversy is as to payments of $10,500 which the estate of Edward Bausch received and $15,000 which the estate of William Bausch received from the Bausch & Lomb Optical Company in the year 1945. Both of these decedents had served the company in important capacities for a period of 50 years, and at the time of their death each was receiving $1,500 a month. By direction of the president and treasurer of Bausch & Lomb Optical Company these salaries were continued…
2Cases cited1 opinion
- O'Daniel v. CommissionerUnited States Tax Court · 1948
3Cited by11 opinions
- Estate of Foote v. CommissionerUnited States Tax Court · 1957
- MacFarlane v. CommissionerUnited States Tax Court · 1952
- Bausch v. CommissionerUnited States Tax Court · 1950
- Estate of Arthur W. Davis, Davis v. CommissionerUnited States Tax Court · 1952
- Estate of Capehart v. CommissionerUnited States Tax Court · 1968
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