Barker v. Commissioner
United States Tax Court
Trusts -- Accumulated Income -- Sec. 167, I. R. C. 1939. -- Petitioner when 21 years of age created an irrevocable trust to terminate after 14 years at which time the corpus and accumulated income were to be distributed to him. If he died before termination the corpus and accumulated income were to go to his wife and his issue; if none survived him, then to his father and mother who were co-trustees with an incorporated trust company.
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Trusts -- Accumulated Income -- Sec. 167, I. R. C. 1939. -- Petitioner when 21 years of age created an irrevocable trust to terminate after 14 years at which time the corpus and accumulated income were to be distributed to him. If he died before termination the corpus and accumulated income were to go to his wife and his issue; if none survived him, then to his father and mother who were co-trustees with an incorporated trust company. The trustees were to pay certain amounts of income to petitioner annually with the provision also that the trustees in their discretion could pay accumulated…
1Opinion of the Court
Peter B. Barker, Petitioner, v. Commissioner of Internal Revenue, Respondent
Barker v. Commissioner
Docket No. 55171
United States Tax Court
25 T.C. 1230; 1956 U.S. Tax Ct. LEXIS 244;
March 14, 1956, Filed
Decision will be entered for the respondent.
Trusts -- Accumulated Income -- Sec. 167, I. R. C. 1939. -- Petitioner when 21 years of age created an irrevocable trust to terminate after 14 years at which time the corpus and accumulated income were to be distributed to him. If he died before termination the corpus and accumulated income were to go to his wife and his issue; if none survived him,…
2Cases cited5 opinions
- Helvering v. EvansCourt of Appeals for the Third Circuit · 1942
- Trust under the Last Will & Testament of McDonald v. CommissionerUnited States Tax Court · 1953
- Commissioner v. WillsonCourt of Appeals for the Sixth Circuit · 1942
- Wenger v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1942
- Barker v. CommissionerUnited States Tax Court · 1956