Eubank v. Commissioner
United States Board of Tax Appeals
Petitioner assigned the contingent ritht to receive future commissions on insurance renewal premiums to a trust company in 1924 and 1928. In 1933 commissions were paid to the assignee and respondent taxed petitioner thereon because he was the earner of the income. Held, the assignment was of future compensation for personal services and, since petitioner was the earner of the income, it is taxable to him regardless of the anticipatory assignments.
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Petitioner assigned the contingent ritht to receive future commissions on insurance renewal premiums to a trust company in 1924 and 1928. In 1933 commissions were paid to the assignee and respondent taxed petitioner thereon because he was the earner of the income. Held, the assignment was of future compensation for personal services and, since petitioner was the earner of the income, it is taxable to him regardless of the anticipatory assignments. Lucas v. Earl,281 U.S. 111, and Van Meter v. Commissioner, 61 Fed.(2d) 817, followed.
1Opinion of the Court
GERALD A. EUBANK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Eubank v. Commissioner
Docket No. 86200.
United States Board of Tax Appeals
39 B.T.A. 583; 1939 BTA LEXIS 1010;
March 14, 1939, Promulgated
Petitioner assigned the contingent ritht to receive future commissions on insurance renewal premiums to a trust company in 1924 and 1928. In 1933 commissions were paid to the assignee and respondent taxed petitioner thereon because he was the earner of the income. Held, the assignment was of future compensation for personal services and, since petitioner was the earner of the income,…
2Cases cited18 opinions
- Lucas v. EarlSupreme Court of the United States · 1930
- Old Colony Trust Co. v. CommissionerSupreme Court of the United States · 1929
- Corliss v. BowersSupreme Court of the United States · 1930
- Blair v. CommissionerSupreme Court of the United States · 1937
- Douglas v. WillcutsSupreme Court of the United States · 1935
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