Hyman v. Commissioner
United States Tax Court
1. Where petitioner, a person of means, transferred in 1939 certain property to herself and husband as trustees, the income to be accumulated for about three years until their only child reached the age of 21, at which time the accumulations were to be paid to him and thereafter the net income until he reached the age of 30 years, at which time the trust was to cease and the corpus and all accumulated and unexpended income therefrom were to be paid to petitioner, and…
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1. Where petitioner, a person of means, transferred in 1939 certain property to herself and husband as trustees, the income to be accumulated for about three years until their only child reached the age of 21, at which time the accumulations were to be paid to him and thereafter the net income until he reached the age of 30 years, at which time the trust was to cease and the corpus and all accumulated and unexpended income therefrom were to be paid to petitioner, and petitioner, in addition to other reserved powers, reserved "the right to designate any beneficiary or beneficiaries, other than…
1Opinion of the Court
OPINION.
Black, Judge:
We shall first consider the question of whether the respondent erred in determining that the income of the John Arthur Hyman trust in the amount of $2,300 is taxable to petitioner under section 22 (a) of the Internal Eevenue Code.1 The amendments thereto by the Public Salary Tax Act of 1939 are not here material. The answer to this inquiry depends upon whether the situation here presented falls within or without the ambit of Helvering v. Clifford, 309 U. S. 331. At the hearing counsel for the respondent made the statement that the $2,300 of income in question under this…
2Cases cited9 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. HorstSupreme Court of the United States · 1940
- Helvering v. TaylorSupreme Court of the United States · 1935
- Blair v. CommissionerSupreme Court of the United States · 1937
- Helvering v. StuartSupreme Court of the United States · 1942
4 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Gross v. CommissionerUnited States Tax Court · 1946
- Fischer v. CommissionerUnited States Tax Court · 1947
- Martuccio v. CommissionerUnited States Tax Court · 1992
- Mattox v. CommissionerUnited States Tax Court · 1943
- Gordon v. CommissionerUnited States Tax Court · 1943
6 more not listed; retrieve them via the Exa API.