Bingham v. Commissioner
United States Tax Court
Transferee Liability -- Beneficiary of Life Insurance. -- The petitioner received proceeds of insurance as the beneficiary of policies on the life of her deceased husband. The laws of North Carolina exempt such proceeds from claims of creditors of the deceased husband in the absence of payment of premiums with intent to defraud creditors.
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Transferee Liability -- Beneficiary of Life Insurance. -- The petitioner received proceeds of insurance as the beneficiary of policies on the life of her deceased husband. The laws of North Carolina exempt such proceeds from claims of creditors of the deceased husband in the absence of payment of premiums with intent to defraud creditors. There being no showing that any premiums were paid with intent to defraud creditors, it is held that the petitioner is not liable as a transferee for income taxes owed by decedent. Commissioner v. Stern, 357 U.S. 39, followed.
1Opinion of the Court
Vernon M. Bingham, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bingham v. Commissioner
Docket No. 56986
United States Tax Court
30 T.C. 900; 1958 U.S. Tax Ct. LEXIS 126;
July 10, 1958, Filed
Decision will be entered for the petitioner.
Transferee Liability -- Beneficiary of Life Insurance. -- The petitioner received proceeds of insurance as the beneficiary of policies on the life of her deceased husband. The laws of North Carolina exempt such proceeds from claims of creditors of the deceased husband in the absence of payment of premiums with intent to defraud creditors. There being…
2Cases cited6 opinions
- United States v. BessSupreme Court of the United States · 1958
- Commissioner v. SternSupreme Court of the United States · 1958
- Building and Loan Association v. . SwaimSupreme Court of North Carolina · 1929
- Hampton v. CommissionerUnited States Tax Court · 1958
- Myers v. CommissionerUnited States Tax Court · 1958
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