Flitcroft v. Commissioner
United States Tax Court
Petitioners in 1953 created three trusts for the benefit of their minor children each of which provided that it should cease and terminate on a specified date which in each instance was 10 years and 5 days after the date of the creation of the trust. The trusts contained no provision that they were irrevocable. In 1954 when the remaining portion of the term of each trust was less than 10 years, each trust was amended to provide that it was irrevocable.
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Petitioners in 1953 created three trusts for the benefit of their minor children each of which provided that it should cease and terminate on a specified date which in each instance was 10 years and 5 days after the date of the creation of the trust. The trusts contained no provision that they were irrevocable. In 1954 when the remaining portion of the term of each trust was less than 10 years, each trust was amended to provide that it was irrevocable. In 1961 a California court entered an order reforming the trusts to provide that they were irrevocable from their creation. Sec. 2280, Cal.…
1Opinion of the Court
Scott, Judge:
Respondent determined deficiencies in petitioners’ income tax for the calendar years 1953, 1954, 1955, and 1956 in the respective amounts of $36,958.95, $39,281.86, $25,666.01, and $31,047.73.
The issue for decision is whether the income reported in the years 1954, 1955, and 1956 by three trusts created by petitioners for the benefit of their minor son and daughter should be included in petitioners’ income.
In the determination set forth in the notice of deficiency respondent included the income reported by these three trusts in the year 1953 in petitioners’ income but on brief…
2Cases cited22 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Commissioner of Internal Revenue v. Estate of Ellis Branson Ridgway, Deceased, Craig Sawyer Ridgway and Ellis Branson Ridgway, Jr., ExecutorsCourt of Appeals for the Third Circuit · 1961
- Gaylord v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1946
- M.T. Straight's Trust, Francis L. McCrea Trustee v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1957
- Cuddihy v. CommissionerUnited States Tax Court · 1959
17 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- Fono v. CommissionerUnited States Tax Court · 1982
- Ward v. CommissionerUnited States Tax Court · 1986
- Estate of Nicholson v. CommissionerUnited States Tax Court · 1990
- Estate of Hill v. CommissionerUnited States Tax Court · 1975
- Harris W. Bradley and Patricia G. Bradley v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1963
25 more not listed; retrieve them via the Exa API.