The Commissioner determined a deficiency of $1,803.18 in petitioner's gift tax for 1941 by adding to gifts reported amounts paid as premiums on insurance policies transferred by her husband to a trust of which she was beneficiary and as interest on loans secured by the policies. Petitioner contends that such payments were not made as gifts, but to protect her interest as beneficiary of the trust.
JOHNSON...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.