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Taxation-Income Tax-Taxability Of Payments Made To Widows Of Deceased Employees, Douglas L. Mann S.Ed.
Taxation-Income Tax-Taxability Of Payments Made To Widows Of Deceased Employees, Douglas L. Mann S.Ed.
Michigan Law Review
Payments were made by an employer to the widow of a deceased employee in consideration of services rendered by the employee. Held, the payments were includible in the widow's gross income for federal income tax purposes. I.T. 4027, Int. Rev. Bul., Oct. 16, 1950, 2, 505 CCH ¶6208.
Taxation-Income Tax-Income From Discharge Of Indebtedness, R. V. Ehrick
Taxation-Income Tax-Income From Discharge Of Indebtedness, R. V. Ehrick
Michigan Law Review
In 1925 taxpayer obtained a loan of $90,000 from a bank, executing in return 200 bonds secured by a mortgage on certain of his property. The bank sold the bonds to the public. Until 1932 taxpayer was able to pay the interest and retire the bonds according to schedule, but in that year, compelled by a "straitened" (but solvent) financial condition, he obtained an extension of interest and principal payments. During 1938, 1939 and 1940 (prior to maturity) taxpayer repurchased a portion of the bonds at considerably less than face value, some of the purchases being made through a bondholders' …
Recent Decisions, Michigan Law Review
Recent Decisions, Michigan Law Review
Michigan Law Review
The recent decisions consist merely of summaries of the facts and holdings of recent cases and are distinguished from the notes by the absence of discussion.