Davis v. Commissioner
United States Tax Court
Decedent was qualified to receive upon retirement an annuity under a group annuity contract purchased by his employer. Pursuant to an option in the contract, he elected in 1946 prior to his retirement to receive a reduced annuity and to name his wife as joint annuitant to receive the annuity after his death. By the annuity contract he had the right to revoke or change the election with the consent of the insurance company.
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Decedent was qualified to receive upon retirement an annuity under a group annuity contract purchased by his employer. Pursuant to an option in the contract, he elected in 1946 prior to his retirement to receive a reduced annuity and to name his wife as joint annuitant to receive the annuity after his death. By the annuity contract he had the right to revoke or change the election with the consent of the insurance company. Decedent retired in 1948 and received the reduced annuity until his death in 1950. He made no request of the insurance company to revoke or change his election. The…
1Opinion of the Court
OPINION.
Keen, Judge:
Respondent determined a deficiency of $8,763.08 in the estate tax of petitioner. That part of the deficiency is here at issue which results from respondent’s including in the gross estate the amount of $60,477.93, representing the value of the rights of decedent’s widow to receive as a joint annuitant amounts payable under a group annuity contract issued by Aetna Life Insurance Company to F. W. Woolworth Co., decedent’s employer, pursuant to an election exercised by decedent whereby his wife was named as joint annuitant to receive a reduced annuity after his death.…
2Cases cited4 opinions
- Higgs v. CommissionerUnited States Tax Court · 1949
- Higgs' Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1950
- Commissioner of Internal Revenue v. Twogood's EstateCourt of Appeals for the Second Circuit · 1952
- Twogood v. CommissionerUnited States Tax Court · 1950
3Cited by18 opinions
- Fusz v. CommissionerUnited States Tax Court · 1966
- Carrie Kramer and Julius Kramer, Executors of the Estate of Abraham Kramer, Deceased v. The United StatesUnited States Court of Claims · 1969
- Estate of Fried v. CommissionerUnited States Tax Court · 1970
- Estate of Kopperman v. CommissionerUnited States Tax Court · 1978
- Carlton v. CommissionerUnited States Tax Court · 1960
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