Jenkins v. Smith

THOMAS, District Judge.

This is an action to recover alleged excessive estate taxes in the amount of $3,440.42 with interest, due to what the plaintiffs contend was an erroneous valuation of certain corporate stock.

The decedent at the time of his death on November 1, 1934, was the owner of 17,679 shares of stock of American Home Products Corporation. This stock was valued as of the date of death by the plaintiffs, as executors, in making the estate tax return, at $30 per share, and the tax was calculated and paid on that valuation. The Commissioner of Internal Revenue determined the fair…