McPherson v. Commissioner

JAMES, District Judge.

The petitioners herein are contesting the determination of the United States Board of Tax Appeals holding them liable as transferees for the payment, in the case of petitioner McPherson of $2,000, and in the ease of Leighton of $900, as their proportion of a total income and profits tax of $7,986.53 assessed against Leighton’s Inc., a corporation. All of the proceedings with respect to the imposition of the main tax, and the amounts thereof assessed against petitioners, were had subsequent to June 25, 1920, on which date the corporation was regularly dissolved as…