United States Supreme Court
281 U.S 376 (1930)
Corliss (plaintiff) created a trust, deeming his wife as the income beneficiary for life, with the remainder to their children. Corliss reserved the right to terminate the trust or to modify it at any time. Although the net income from the trust was issued to his wife in the tax year in question, the income was found taxable to Corliss. After paying the tax, Corliss filed suit for a refund in the District Court. The District Court dismissed his case and the Court of Appeals affirmed. The United States Supreme Court granted certiorari.
Rule of Law
Holding and Reasoning (Holmes, J.)
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