Hill v. Commissioner
United States Tax Court
The will of a decedent provided that the executors, in their absolute discretion, could require or waive refunding bonds before paying income to the residuary legatees. Held, such provision prevents the right of the legatees to current income from being vested and absolute, and such income, to the extent not actually distributed or irrevocably credited to them is not includible in their taxable incomes. Sec. 162 (b), I. R. C. 1939.
1Opinion of the Court
Horace Greeley Hill, Jr., Petitioner, v. Commissioner of Internal Revenue, Respondent. Mamie Wilson Hill, Petitioner, v. Commissioner of Internal Revenue, Respondent. Frances Hill Caldwell, Petitioner, v. Commissioner of Internal Revenue, Respondent
Hill v. Commissioner
Docket Nos. 36567, 36568, 36569
United States Tax Court
24 T.C. 1133; 1955 U.S. Tax Ct. LEXIS 89;
September 29, 1955, Filed
Decisions will be entered under Rule 50.
The will of a decedent provided that the executors, in their absolute discretion, could require or waive refunding bonds before paying income to the residuary legatees.…
Also in this document: Concurrence.
2Cases cited25 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Phalen v. VirginiaSupreme Court of the United States · 1850
- Saulsbury v. United StatesCourt of Appeals for the Fifth Circuit · 1952
- Globe Indemnity Co. v. BruceCourt of Appeals for the Tenth Circuit · 1935
- Commissioner of Internal Revenue v. StearnsCourt of Appeals for the Second Circuit · 1933
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