To avoid the Federal inheritance tax many a wealthy man used to deed over most of his property to his intended heirs when he felt death overtaking him. So widespread became this type of tax evasion that Congress in 1926 amended the Internal Revenue Laws by inserting a provision (Section 302C) that all such gifts within two years of death were presumably made to cheat the U. S. Treasury and must be taxed as part of the final estate. Last week in Manhattan U. S. District Judge Alfred Conkling Coxe declared Section 302C unconstitutional as it deprived heirs of their...
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