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KNIPP'S ESTATE v. COMMISSIONER OF INTERNAL REVENUE

No. 7302.

244 F.2d 436 (1957)

ESTATE of Frank H. KNIPP, Howard F. Knipp, Executor, Petitioner, and Cross-Respondent, and Howard F. Knipp, and Estate of Frank H. Knipp, Howard F. Knipp, Executor, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent and Cross-Petitioner, and Commissioner of Internal Revenue, Respondent.

United States Court of Appeals Fourth Circuit.

Decided April 10, 1957.

Attorney(s) appearing for the Case

Carolyn E. Agger, Washington, D. C. (Paul, Weiss, Rifkind Wharton & Garrison, and Julius M. Greisman, Washington, D. C., on brief), for petitioners and cross-respondent.

L. W. Post, Atty., Dept. of Justice, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, and Robert M. Anderson, Attys., Dept. of Justice, Washington, D. C., on brief), for respondent and cross-petitioner.

Before PARKER, Chief Judge, and SOPER and SOBELOFF, Circuit Judges.

SOBELOFF, Circuit Judge.

The principal problem of this case relates to the proper time for taxing partnership income earned in the year of the death of one of the partners.

A partnership is not a taxable entity under our internal revenue laws, but it has a taxable year for accounting purposes and is required to make an information return, which becomes the basis for computing the partners' individual income. As the partnership fiscal year may be different...

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