Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 9 of 9
Full-Text Articles in Law
Foundations And The Patman Committee Report, John E. Riecker
Foundations And The Patman Committee Report, John E. Riecker
Michigan Law Review
It is the purpose of this article to evaluate the major points of the first, and main, installment of Congressman Patman's Report in the light of existing Internal Revenue Code provisions, Treasury regulations, and the more significant federal court decisions and Internal Revenue Service rulings. While the Report itself is more inclusive, space limitations dictate that this article be confined to section 501(c)(3) organizations-chiefly foundations, tax-exempt funds, and charitable trusts. Although the writer will strive to be objective, it is difficult to avoid some of the political gloss in which the Report is cast and impossible to discuss the ramifications …
Taxation-Federal Income Tax-Strike Benefits May Be Gifts, Christopher Cobb
Taxation-Federal Income Tax-Strike Benefits May Be Gifts, Christopher Cobb
Michigan Law Review
Taxpayer received assistance from a labor union while he was participating in a strike called by the union. The area in which he lived had become a distressed area as a consequence of the strike, and the union had established a general program of aid for strikers with no other source of income. Both before and after he joined the union payments were made to taxpayer under this program. Taxpayer sued for a refund of the income tax he payed on the value of the assistance so received, and the jury returned a verdict in his favor, finding the payments …
The Legal Status Of The Red Cross, Wesley A. Sturges
The Legal Status Of The Red Cross, Wesley A. Sturges
Michigan Law Review
Red Cross is a term well known in the world at large; so is the heraldic emblem of the red cross on a white background. Many people in many lands use them to indicate and symbolize a variety of humanitarian purposes, principles and services. When the term is used as a proper name, generally it identifies an organization which is lawfully authorized to carry out those purposes and services under that name. Organizations by that name have been accorded exclusive authority to carry out the given humanitarian programs, exclusive authority to use the words, whether as a proper name or …
Taxation - Federal Estate Tax - Deductibility Of Contingent Bequests To Charity, Jack G. Armstrong S.Ed.
Taxation - Federal Estate Tax - Deductibility Of Contingent Bequests To Charity, Jack G. Armstrong S.Ed.
Michigan Law Review
Testator bequeathed a remainder interest to charitable organizations which was contingent upon her sister, age eighty-two, predeceasing two other women, ages sixty-seven and sixty-eight. The Commissioner disallowed a deduction for this bequest on the ground that it was not certain that charity would receive any benefit. In the district court the parties stipulated that there was an eleven to one chance that charity would receive the bequest. On the basis of this stipulation the district court found for the taxpayer. On appeal, held, reversed. In order for a deduction to be allowed the possibility that charity will not take …
Taxation-Federal Estate Tax-Use Of Actual Life Expectancy Without Reference To Actuarial Tables In Valuing Charitable Remainder, Gene E. Overbeck S.Ed.
Taxation-Federal Estate Tax-Use Of Actual Life Expectancy Without Reference To Actuarial Tables In Valuing Charitable Remainder, Gene E. Overbeck S.Ed.
Michigan Law Review
Decedent, Nicholas Murray Butler, died testate on December 7, 1947. He bequeathed property to trustees, directing that the income be paid to his wife, Kate, for life, and upon her death the trust to terminate and a stipulated portion of the corpus be paid to the trustees of Columbia University. Held, the facts in existence at the time of decedent's death were such as to render it certain that Kate La Montagne Butler would not live more than one year after decedent's death, hence it was proper to use that expectancy, without reference to actuarial tables, in valuing the …
Future Interests - Taxation - Evidence - Presumption As To The Possibility Of A Woman Bearing Children, Hobart Taylor, Jr.
Future Interests - Taxation - Evidence - Presumption As To The Possibility Of A Woman Bearing Children, Hobart Taylor, Jr.
Michigan Law Review
Testatrix, a resident of Massachusetts, set up a trust of her residuary estate for her two daughters, the principal to be paid to their issue, but if either should die without issue, her share to be paid to certain named charities. On probate, the remainder to charity was held to be void. The income tax law of Massachusetts imposed a three per cent levy on income accumulated for contingent future interests, but exempted from taxation certain interests of nonresidents, including vested remainders not subject to being divested. The daughters, nonresidents, contended that their interests should not be taxed as contingent …
Eminent Domain - Disposition Of Award When Land Is Subject To Life Estate And Remainder, Mary Jane Morris
Eminent Domain - Disposition Of Award When Land Is Subject To Life Estate And Remainder, Mary Jane Morris
Michigan Law Review
Testator devised property to his adopted daughter for life and remainder to her children, but should she leave no children at her death, then the estate was to go to a named charity. The United States took title to this property and paid the compensation into court. The life tenant and one of the five children filed a motion that the life tenant be permitted to withdraw the funds arising from the condemnation for the purpose of having them immediately reinvested in other real estate and/or government securities. This motion was approved by the guardian ad litem for the one …
Annuities - Satisfaction Of Prior Deficiencies From Income Surplusages Of Subsequent Years, Edward H. Adams
Annuities - Satisfaction Of Prior Deficiencies From Income Surplusages Of Subsequent Years, Edward H. Adams
Michigan Law Review
Testatrix left her estate in trust for the purpose of paying certain sums of money annually to named beneficiaries. In a codicil to her will, she provided that in case there was insufficient income to meet expenses and pay all annuities stated, certain of the beneficiaries were to be preferred. Deficiencies occurred so that all sums were not paid, but subsequently there was surplus income which the trustees desired to apply to the prior deficiencies. Held, one justice dissenting, that the surplus after paying the annuities for the present year could be applied to the deficiencies which had occurred …
Legislation - Unemployment Insurance Bills
Legislation - Unemployment Insurance Bills
Michigan Law Review
The ever-present problem of unemployment is today particularly acute. The ultimate aim, of course, must be to put an end to unemployment. But achievement of this aim is not in sight, and in the meantime we are set the task of mitigating, so far as possible, the sufferings incident to unemployment. The laissez-faire attitude toward social problems is passing, and an increasing opinion accepts this task of mitigation as resting on society. In 1908 Sir William Beveridge was able to write: "There has been thus a steady, if gradual, growth of the sense of public responsibility for the case of …