(Download) "Humphreys Estate v. Commissioner of Internal Revenue." by Fifth Circuit Circuit Court Of Appeals # eBook PDF Kindle ePub Free
eBook details
- Title: Humphreys Estate v. Commissioner of Internal Revenue.
- Author : Fifth Circuit Circuit Court Of Appeals
- Release Date : January 02, 1947
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
The case relates to the estate taxes of Albert P. Humphrey, who died testate February 23, 1942, the reported value of his estate being $185,475. On January 18, 1941, within two years prior to his death, decedent and his wife each made cash gifts to their two sons of $40,000.The Commissioner included this $40,000 in the gross estate of decedent and taxed it. The Tax Court sustained this action, finding that the $40,000 was as a matter of fact transferred in contemplation of death, because the evidence not only did not rebut the statutory presumption stated in Internal Revenue Code, § 811(c), 26 U.S.C.A. Int. Rev. Code, § 811(c), but the circumstances showed such contemplation.