FIRST NAT. BANK OF OMAHA v. UNITED STATES

No. 76-2111.

565 F.2d 507 (1977)

FIRST NATIONAL BANK OF OMAHA and Katherine D. Clark, Trustees of the Margaret H. Doorly Family Trusts, Appellees, v. UNITED STATES of America, Appellant.

United States Court of Appeals, Eighth Circuit.

Decided November 11, 1977.


Attorney(s) appearing for the Case

Myron C. Baum, Acting Asst. Atty. Gen., Gilbert E. Andrews, Leonard J. Henzke, Jr., Francis J. Gould (argued and made rebuttal), Attys., Tax Div., Dept. of Justice, Washington, D. C. and Daniel E. Wherry, U. S. Atty., Omaha, Neb., on appendix and briefs, for appellant.

Louis E. Lipp, White, Lipp, Simon & Powers (argued), and James R. Place, Omaha, Neb., on brief, for appellees.

Before GIBSON, Chief Judge, HEANEY, Circuit Judge and DEVITT, District Judge.


GIBSON, Chief Judge.

This is a tax refund suit by trustees of a family trust as successors to the property of the late Margaret H. Doorly, for 1963 income taxes overpaid by Mrs. Doorly. In her 1963 return she recognized the receipt of $10,429,005 from the liquidation of the World Publishing Company (World), publishers of the Omaha World Herald, and paid a tax of $2,332,257.19. It is now conceded that over $1,000,000 should not have been recognized as constructively...

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