Speier v. United States

LITTLETON, Judge.

Defendant contends that the declaration of a cash dividend of $40,000, payable $20,000 to Simon and $20,000 to Speier, was a condition precedent in the offer of sale of Simon’s stock which was accepted by Speier, that such a dividend was declared by the corporation, and it must be held to have been constructively received by Speier.

The sole question in the case, therefore, is whether plaintiff constructively received a cash dividend from the corporation of Speier & Simon in 1922 in such manner as to make him taxable on $20,000 under article 53 of Regulations 62 under the…