Samuel Wegbreit v. CIR

In the United States Court of Appeals For the Seventh Circuit ____________________ No. 20‐1306 SAMUEL WEGBREIT and ELIZABETH J. WEGBREIT, Petitioners‐Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent‐Appellee. ____________________ Appeal from the United States Tax Court. No. 7109‐13 — Mary Ann Cohen, Judge. ____________________ ARGUED DECEMBER 7, 2020 — DECIDED DECEMBER 29, 2021 ____________________ Before SYKES, Chief Judge, and BRENNAN and ST. EVE, Circuit Judges. SYKES, Chief Judge. Samuel and Elizabeth Wegbreit sheltered several million dollars of income in a life‐insurance…