Leonard Hyatt and Maudie Hyatt v. Commissioner of Internal Revenue, 325 F.2d 715

PER CURIAM.

This case presents a factual situation indistinguishable for the purposes of the controlling legal principle from our deci sion in United States v. Eidson, (5th Cir. 1962) 310 F.2d 111. It follows that the decision of the Tax Court, that amounts received by the taxpayers upon assignment of their rights under a general agency contract for a Texas statewide mutual assessment life insurance company were taxable as ordinary income, was correct, and that it should be and is affirmed.

Case Details

Case Name: Leonard Hyatt and Maudie Hyatt v. Commissioner of Internal Revenue

Court Name: Court of Appeals for the Fifth Circuit

Date Published: Jan 31, 1964

Citations: 325 F.2d 715; 20503_1

Docket Number: 20503_1

Court Abbreviation: 5th Cir.