Anticipatory Assignment Of Income

50 Florida cases classified under this topic · sorted by citation count · browse and sort

• Pridemark v. Commissioner OF Internal Revenue
  345 F.2d 35· 4th Cir.· 1965-04-23 ·cited 76×
  The court held that the sale of uncompleted sales contracts by a liquidating corporation resulted in ordinary income, not tax-exempt gain, and that the transaction did not constitute a 'reincorporation' because it lacked tax avoidance motive.
• Vnuk v. Commissioner OF Internal Revenue
  621 F.2d 1318· 8th Cir.· 1980-07-11 ·cited 34×
  The court held that the conveyance of lifetime services to a trust was ineffective to shift the incidence of taxation, and that the taxpayers were properly assessed negligence penalties.
• United States v. Brodie
  858 F.2d 492· 9th Cir.· 1988-09-21 ·cited 29×
  The court held that the trial court did not err in denying a mistrial due to extrinsic material in the jury room, excluding expert testimony, and refusing a jury instruction on property transmutation.
• Commissioner of Internal Revenue v. First State Bank of Stratford
  168 F.2d 1004· 5th Cir.· 1948-06-25 ·cited 28×
• Doyle v. Commissioner of Internal Revenue
  147 F.2d 769· 4th Cir.· 1945-02-14 ·cited 27×
  Assignments of anticipated income, even if technically structured as gifts of property or capital assets, are taxable to the assignor if the assignor retains control or the income is practically assured.
• Williamson v. United States
  292 F.2d 524· Ct. Cl.· 1961-07-19 ·cited 26×
  A corporation that has earned income and perfected its right to receive it cannot escape taxation by liquidating and distributing the right to receive that income to its shareholders.
• Jerome D. and Bernetta O. Hanson v. Commissioner OF Internal Revenue
  696 F.2d 1232· 9th Cir.· 1983-01-17 ·cited 18×
  The court held that the income, expenses, and deductions attributed to the trust were properly attributable to the taxpayers, and that the negligence penalty was appropriate.
• Wood Harmon Corp. v. United States
  311 F.2d 918· 2d Cir.· 1963-01-07 ·cited 14×
  A corporation that has consummated a sale of its property prior to liquidation is taxable on the capital gain from that sale, even if it assigns the right to receive the proceeds to its shareholders.
• Jaeger Motor CAR Co. v. Commissioner OF Internal Revenue
  284 F.2d 127· 7th Cir.· 1960-11-16 ·cited 14×
  The court held that the Tax Court's findings of fraud were supported by substantial evidence, thus the statute of limitations did not bar assessment of deficiencies, and that certain corporate expenditures constituted dividend income to the principal shareholder.
• Caldwell v. Ellis Campbell, Jr.
  218 F.2d 567· 5th Cir.· 1955-01-12 ·cited 14×
  The dissenting judge believes the transactions were assignments of income, not sales of realty, and thus the income should be taxed to the transferor.
• Hudspeth v. United States
  471 F.2d 275· 8th Cir.· 1972-12-21 ·cited 12×
  A taxpayer who donates stock after a liquidation plan is adopted and assets are sold, but retains control of the corporation, is taxable on the liquidation proceeds as an anticipatory assignment of income.
• Wilkinson v. The United States
  304 F.2d 469· Ct. Cl.· 1962-06-06 ·cited 12×
  The court held that amounts received from the sale of interests in a fee, including those assigned to charities, should be taxed as ordinary income to the plaintiffs.
• The Cold Metal Process Co. v. Commissioner OF Internal Revenue
  247 F.2d 864· 6th Cir.· 1957-09-10 ·cited 12×
  The court held that income received by a dissolved corporation's sole stockholder in 1949, arising from assets assigned in 1945, was not taxable to the dissolved corporation because the income was contingent, unliquidated, and the corporation had divested itself of all interest a
• Commissioner OF Internal Revenue v. Hawn
  231 F.2d 340· 5th Cir.· 1956-03-27 ·cited 12×
  The court held that the transfer of oil payments to a contractor for house construction was an assignment of anticipated income, not a sale of a capital asset.
• Reynolds v. Commissioner OF Internal Revenue
  861 F.2d 469· 6th Cir.· 1988-11-16 ·cited 11×
  The court held that the Commissioner of Internal Revenue was judicially estopped from taxing a capital gain to the petitioner when the Commissioner had previously secured bankruptcy court approval of a stipulation treating the gain as taxable to the petitioner's former spouse.
• Pfluger v. Commissioner OF Internal Revenue
  840 F.2d 1379· 7th Cir.· 1988-03-07 ·cited 10×
  The court held that the family trust arrangement constituted an invalid anticipatory assignment of income and that the taxpayers failed to prove the management fee was paid, thus affirming the Tax Court's decision to disallow the deduction and uphold the deficiency and negligence
• United States v. Landsberger
  692 F.2d 501· 8th Cir.· 1982-07-29 ·cited 10×
  The court held that the "Foreign Tax Haven Double Trust" scheme constituted an illegal anticipatory assignment of income, and affirmed the permanent injunction against it. The contempt order was vacated due to a factual error regarding the timing of one violation.
• Commissioner of Internal Revenue v. Giannini
  129 F.2d 638· 9th Cir.· 1942-07-08 ·cited 10×
  The court held that the taxpayer did not realize taxable income because he did not beneficially receive the funds or direct their disposition; his unqualified refusal constituted a renunciation, not an assignment.
• Morgan Guar. Tr. Co. of N.Y. v. The United States
  585 F.2d 988· Ct. Cl.· 1978-10-18 ·cited 8×
  The court held that the transfer of future payments from the Mixed Claims Commission awards to a charitable trust was a gift of appreciated property, not an anticipatory assignment of income, and that the Commissioner abused his discretion by forcing a cash basis accounting for p
• United States v. Railroad
  348 F.2d 278· 5th Cir.· 1965-06-30 ·cited 8×
  A lessor under a long-term lease of corporate securities is not entitled to the dividends-received deduction as they have divested beneficial ownership, and the retained interest in leased shares is not depreciable property.
• United States v. Horschel
  205 F.2d 646· 9th Cir.· 1953-06-15 ·cited 8×
  The distribution of assets by a dissolved corporation to its shareholders, which were later sold by the shareholders, does not constitute an anticipatory assignment of income taxable to the corporation.
• Wodehouse v. Commissioner of Internal Revenue
  178 F.2d 987· 4th Cir.· 1949-12-21 ·cited 8×
  Assignments of a one-half interest in stories to a wife were legally valid, despite the sales agent not notifying the purchaser and the existence of a joint bank account.
• Home Furniture Co. v. Commissioner of Internal Revenue
  168 F.2d 312· 4th Cir.· 1948-05-18 ·cited 8×
  The court held that the transaction was an anticipatory assignment of income lacking economic reality and thus the income was taxable to the petitioner.
• Sunnen v. Commissioner of Internal Revenue
  161 F.2d 171· 8th Cir.· 1947-04-28 ·cited 8×
  Income from assigned royalty contracts is taxable to the assignee (wife) if the assignment is a completed gift of income-producing property, and the assignor (husband) retains no control.
• United States v. Allen
  551 F.2d 208· 8th Cir.· 1977-03-15 ·cited 6×
  The court held that rental payments and real estate commissions earned and subject to the taxpayer's dominion and control are includible as gross income, even if subject to marital disputes or agreements to transfer the funds to others.
• Jones v. United States
  531 F.2d 1343· 6th Cir.· 1976-02-23 ·cited 6×
  The dissenting opinion argues that the majority erred in reversing the district court's decision, finding the prior cases relied upon by the majority to be distinguishable.
• Kinsey v. Commissioner OF Internal Revenue
  477 F.2d 1058· 2d Cir.· 1973-05-07 ·cited 6×
  The court held that the transfer of stock to a charity after a plan of liquidation was adopted constituted an anticipatory assignment of income, and thus the gain was taxable to the donor.
• Maxwell B. Llewellyn and Gertrude Llewellyn v. Commissioner OF Internal Revenue
  295 F.2d 649· 7th Cir.· 1961-11-07 ·cited 6×
  Amounts deducted from an employee's compensation and paid directly to an insurance company for an annuity, at the employee's direction, are considered constructively received income to the employee, not employer contributions.
• Commissioner OF Internal Revenue v. P. G. Lake, Inc.
  241 F.2d 71· 5th Cir.· 1957-02-01 ·cited 6×
  The assignment of an oil payment interest carved out of a working interest is a sale of a capital asset, not anticipatory assignment of income.
• Scofield v. O'Connor
  241 F.2d 65· 5th Cir.· 1957-02-01 ·cited 6×
  The court held that the transaction was a bona fide sale of a capital asset, not an anticipatory assignment of income, and thus eligible for capital gains treatment.
• First Nat. Bank of ST. Elmo v. United States
  194 F.2d 389· 7th Cir.· 1952-02-14 ·cited 6×
  A bank on a cash basis cannot divest itself of tax liability for income by transferring the right to collect a fixed sum to its shareholders after the right to receive that sum has been established.
• Grant v. Commissioner of Internal Revenue
  174 F.2d 891· 5th Cir.· 1949-06-03 ·cited 6×
  The court held that the petitioner was taxable on the trust income because she had the power to elect to receive it, and her subsequent renunciation did not relieve her of tax liability based on economic ownership.
• Goldsmith v. The United States
  586 F.2d 810· Ct. Cl.· 1978-11-15 ·cited 4×
  Sums withheld under a deferred compensation agreement, even if funded by an insurance policy owned by the employer, are not constructively received by the employee if the agreement is not a sham and the employee has no security interest in the deferred sums.
• Jones v. United States
  395 F.2d 938· 6th Cir.· 1968-05-29 ·cited 4×
  The court held that the taxpayer's charitable deductions for the donated annuity interests were allowable because the possibility of the gifts failing was highly improbable, but that the taxpayer was taxable on annuity payments received in the year of the gift that represented in
• Berry v. United States
  267 F.2d 298· 6th Cir.· 1959-06-01 ·cited 4×
  The sale of a partnership interest in a going concern, even with anticipated profits, is treated as the sale of a capital asset, not ordinary income, if the ultimate profit is uncertain at the time of sale.
• Heyman v. Commissioner of Internal Revenue
  176 F.2d 389· 2d Cir.· 1949-08-02 ·cited 4×
  The court held that purported assignments of rights to future proceeds from a lawsuit were anticipatory assignments of income, not transfers of capital assets, and thus taxable as ordinary income. Distributions were not in complete liquidation as required by statute.
• Whitehead v. Commissioner of Internal Revenue
  148 F.2d 718· 4th Cir.· 1945-04-09 ·cited 4×
  The court held that the petitioner constructively received and controlled the assigned income, making it taxable to her despite her attempts to renounce it.
• Storz v. Commissioner OF Internal Revenue
  583 F.2d 972· 8th Cir.· 1978-07-18 ·cited 2×
  The court held that uncompleted underwriting contracts assigned during liquidation are property under Section 337, but the assignment of income doctrine applies, making the seller responsible for tax on income earned through its efforts prior to the sale.
• Bateman v. United States
  490 F.2d 549· 9th Cir.· 1973-12-04 ·cited 2×
  The court held that income paid to trusts and a corporation, to which taxpayers transferred partnership interests, could be taxed to these entities, not the taxpayers, because they were validly recognized as partners and the corporation was not a sham.
• Sol C. Siegel v. United States
  464 F.2d 891· 9th Cir.· 1972-07-11 ·cited 2×
  The court held that a guaranteed amount, unconditionally payable to a corporation for its services in producing films, constituted taxable income to the corporation when earned, even though the right to receive the payment was assigned to shareholders before collection.
• Jones v. Commissioner OF Internal Revenue
  306 F.2d 292· 5th Cir.· 1962-07-19 ·cited 2×
  The court held that the assignment of a doubtful and contingent claim to a corporation was not an anticipatory assignment of income taxable to the assignor, but rather a transfer of a claim that was taxable to the assignee corporation upon its collection.
• Neil v. Commissioner OF Internal Revenue
  269 F.2d 563· 5th Cir.· 1959-08-13 ·cited 2×
• Willis G. and Opal F. Knigge v. Commissioner OF Internal Revenue
  756 F.2d 1377· 9th Cir.· 1985-04-01
  The court held that the taxpayer's assignment of future earnings to an entity was a sham and an anticipatory assignment of income, thus ineffective to avoid tax liability.
• Dayton Hydraulic Co. v. United States
  592 F.2d 937· 6th Cir.· 1979-02-16
  A corporation cannot escape capital gains tax on distributed shares if the liquidation plan was practically certain to be completed at the time of distribution, constituting an anticipatory assignment of income.
• United States v. Ramos
  393 F.2d 618· 9th Cir.· 1968-06-25
  The court held that the purported family partnerships for 1956 and 1957 were invalid because the children contributed neither capital nor significant services, and the parents retained ownership and control of the income-producing properties, making the arrangements an anticipato
• Hall v. United States
  242 F.2d 412· 7th Cir.· 1957-03-25
  An anticipatory assignment of income derived from personal services is ineffective for tax purposes, even if the contract generating the income is assigned.
• Pike v. United States
  231 F.2d 687· 9th Cir.· 1956-02-16
  The court held that the family partnerships were valid for tax purposes because they served a legitimate business purpose and involved valid capital contributions by the trusts, despite the income originating from Thomas Pike's services.
• Overton v. Commissioner of Internal Revenue
  162 F.2d 155· 2d Cir.· 1947-06-13
  The court held that dividends received by wives on stock transferred by husbands were taxable income to the husbands, as the transfers constituted anticipatory assignments of income.