Hoover v. Commissioner
United States Board of Tax Appeals
1. INCOME - TRUSTS. - Petitioner created five separate trusts, one each for the benefit of his wife and his four children, each containing a so-called "year and a day" provision. Thereafter, he twice modified those trusts and extended their operation for certain definite periods, the first extension being for approximately five years and the second extension being for approximately six years, provided he was living at the time of the expiration of such periods.
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1. INCOME - TRUSTS. - Petitioner created five separate trusts, one each for the benefit of his wife and his four children, each containing a so-called "year and a day" provision. Thereafter, he twice modified those trusts and extended their operation for certain definite periods, the first extension being for approximately five years and the second extension being for approximately six years, provided he was living at the time of the expiration of such periods. In the trust instruments as operative, during the taxable year, petitioner retained to himself as an individual the power to control…
1Opinion of the Court
HERBERT W. HOOVER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hoover v. Commissioner
Docket No. 90974.
United States Board of Tax Appeals
42 B.T.A. 289; 1940 BTA LEXIS 1022;
June 28, 1940, Promulgated
1. INCOME - TRUSTS. - Petitioner created five separate trusts, one each for the benefit of his wife and his four children, each containing a so-called "year and a day" provision. Thereafter, he twice modified those trusts and extended their operation for certain definite periods, the first extension being for approximately five years and the second extension being for approximately…
2Cases cited8 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Helvering v. WoodSupreme Court of the United States · 1940
- Fleischmann v. CommissionerUnited States Board of Tax Appeals · 1939
- Black v. CommissionerUnited States Board of Tax Appeals · 1937
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