Legal Opinion
Welch v. Paine
Court of Appeals for the First Circuit
Decided October 22, 1942No. 3798PublishedCited by 21 opinions
1Opinion of the Court
MAGRUDER, Circuit Judge.
Appellees, as executors of the estate of Mrs. Ruth F. W. Paine, have prevailed in the court below in a suit to recover an alleged overpayment of gift taxes for the year 1934. On this appeal the issue is whether the gifts in question were of “future interests in property” within the meaning of § 504(b) of the Revenue Act of 1932, 47 Stat. 169, 247. If they were, the Commissioner was right in disallowing to Mrs. Paine multiple exclusions of $5,000 (one for each beneficiary) in calculating her taxable “net gifts” for 1934; and no overpayment has been made.
On September 15,…
2Cases cited8 opinions
- United States v. PelzerSupreme Court of the United States · 1941
- Commissioner of Internal Revenue v. BrandegeeCourt of Appeals for the First Circuit · 1941
- Welch v. PaineCourt of Appeals for the First Circuit · 1941
- Helvering v. BlairCourt of Appeals for the Second Circuit · 1941
- Commissioner of Internal Revenue v. TaylorCourt of Appeals for the Third Circuit · 1941
3 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Fisher v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1942
- Thorrez v. CommissionerUnited States Tax Court · 1958
- La Fortune v. CommissionerUnited States Tax Court · 1957
- Wood v. CommissionerUnited States Tax Court · 1951
16 more not listed; retrieve them via the Exa API.