Work v. Commissioner
United States Tax Court
1. Where title to corporate stock remained registered in the name of a decedent's estate and the executors in 1930 received, administered and distributed the rental-dividends therefrom in their fiduciary capacities, held that the estate and the petitioners as executors are liable as transferees for the unpaid income taxes of the corporation for 1930 under the provisions of section 311 of the Revenue Act of 1928. Samuel Wilcox, 16 T. C. 572, and Estate of Irving Smith, 16 T.…
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1. Where title to corporate stock remained registered in the name of a decedent's estate and the executors in 1930 received, administered and distributed the rental-dividends therefrom in their fiduciary capacities, held that the estate and the petitioners as executors are liable as transferees for the unpaid income taxes of the corporation for 1930 under the provisions of section 311 of the Revenue Act of 1928. Samuel Wilcox, 16 T. C. 572, and Estate of Irving Smith, 16 T. C. 807, followed. 2. Where title to corporate stock remained in the name of a decedent's estate but the estate held the…
1Opinion of the Court
OPINION.
Arundell, Judge:
The principal issue herein, relating to the Commissioner’s burden of showing the insolvency of the transferors and exhausting all reasonable remedies for the collection of the tax from the transferors before proceeding against the petitioners as transferees, has been fully considered and decided adversely to the petitioners in Samuel Wilcox, 16 T. C. 572. Therefore, we shall pass immediately to a consideration of the second issue.
Petitioners point to the fact that the court decree of April 2, 1917, directed them to transfer and pay over 1,994 of the 2,990 shares of…
2Cases cited2 opinions
- Wilcox v. CommissionerUnited States Tax Court · 1951
- Estate of Smith v. CommissionerUnited States Tax Court · 1951
3Cited by1 opinion
- Work v. CommissionerUnited States Tax Court · 1951