Whitehead v. Commissioner
United States Tax Court
1. The will of petitioner's decedent, who died in 1935, left his entire estate to a corporation to be formed for the purpose of using the income for charitable and educational purposes, subject, however, to directions for carrying out settlement contracts which the decedent had entered into with a former wife and with his wife; also for the payment of specified annuities to two individuals.
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1. The will of petitioner's decedent, who died in 1935, left his entire estate to a corporation to be formed for the purpose of using the income for charitable and educational purposes, subject, however, to directions for carrying out settlement contracts which the decedent had entered into with a former wife and with his wife; also for the payment of specified annuities to two individuals. His widow claimed the entire estate as sole heir, but the matter was compromised for $ 500,000, and a decree of court accordingly entered, not specifying whether payment was to be from income or corpus.…
1Opinion of the Court
OPINION.
Disney. Judge'.
The petitioner deducted in returns filed by it for the taxable years amounts accrued to the Joseph B. Whitehead Foundation, a corporation organized under the will solely for charitable purposes. The amount deducted each year was the residue of gross income after making other deductions not herein involved, and after leaving $12,500 for distributions to beneficiaries of two special bequests provided in the decedent’s will.
In his determination of the deficiencies the respondent held that the income of petitioner was not paid to, or permanently set aside for the use of, a…
2Cases cited7 opinions
- Trinidad v. Sagrada Orden De Predicadores De La Provincia Del Santisimo Rosario De FilipinasSupreme Court of the United States · 1924
- Helvering v. BlissSupreme Court of the United States · 1934
- Edwards v. SlocumSupreme Court of the United States · 1924
- Lederer v. StocktonSupreme Court of the United States · 1922
- Old Colony Trust Co. v. CommissionerSupreme Court of the United States · 1937
2 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- Commissioner of Internal Revenue v. Citizens & Southern Nat. BankCourt of Appeals for the Fifth Circuit · 1945
- Fashion Park, Inc. v. CommissionerUnited States Tax Court · 1954
- Arthur Jordan Foundation v. Commissioner of Internal ReveuneCourt of Appeals for the Seventh Circuit · 1954
- Leon A. Beeghly Fund v. CommissionerUnited States Tax Court · 1960
- Hopkins v. CommissionerUnited States Tax Court · 1949
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