Karl F. KNETSCH and Eva Fay Knetsch
v.
The UNITED STATES.
United States Court of Claims.https://leagle.com/images/logo.png
July 16, 1965.
July 16, 1965.
Attorney(s) appearing for the Case
Nola McLane, Phoenix, Ariz., for plaintiffs. W. Lee McLane, Jr., Phoenix, Ariz., of counsel.
Philip R. Miller, Washington, D. C., with whom was Asst. Atty. Gen. Louis F. Oberdorfer, for defendant. C. Moxley Featherston, Edward S. Smith, Cynthia Holcomb and Lyle M. Turner, Washington, D. C., of counsel.
Before LARAMORE, DURFEE, DAVIS and COLLINS, Judges, and WHITAKER, Senior Judge.
United States Court of Claims.
LARAMORE, Judge.
In 1960, the Supreme Court in Knetsch v. United States, 364 U.S. 361, 81 S.Ct. 132, 5 L.Ed.2d 128, put an end to one more of the growing number of "tax saving schemes"1 which are designed to lure high income bracket taxpayers with the promise of substantial tax savings at a relatively small out-of-pocket cost. The case at bar presents another facet...
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