Commissioner of Internal Revenue v. Mildred Irene Siegel

The question involved in this petition 'by the Commissioner of Internal Revenue to review a decision of the Tax Court rendered October 3, 1956, turns on the •correctness of the determination by the Tax Court of a deficiency, arising under the federal gift tax law for the taxable year 1950, of the respondent Mildred Irene Siegel, to be referred to herein-after as the taxpayer.

On February 8, 1954, the Commissioner of Internal Revenue mailed to the taxpayer a notice of a deficiency in the total amount of $51,144.24. The assessment was based on a determination which .read in part:

On April 29, 1954, the taxpayer filed a petition with the Tax Court for a redetermination of the deficiency. The Tax Court entered its decision on October 3, 1956, determining, in effect, that the taxpayer’s transfer having been made in consideration of her waiver of her community rights and her acceptance of the benefits under the will, only the ■excess of the value of her transfer over what she received was a taxable gift. The Tax Court determined the amount to be $4,314.87, which has been paid.

I.

Facts Admitted or Uncontroverted.

In the main, the facts are not in ■dispute, either because they were…