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93d Congress
2d Session

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SENATE

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REPORT
No. 93–768

EXAMINATION OF PRESIDENT NIXON'S
TAX RETURNS FOR 1969 THROUGH 1972

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U.S. GOVERNMENT PRINTING OFFICE

31-271 0

WASHINGTON : 1974

JCS 9-74

For sale by the Superintendent of Documents, U.S. Government Printing Office

Washington, D.C., 20402 - Price $6.50

CONGRESS OF THE UNITED STATES

JOINT COMMITTEE ON INTERNAL REVENUE TAXATION

SENATE

HOUSE RUSSELL B. LONG, Louisiana, Chairman WILBUR D. MILLS, Arkansas, HERMAN E. TALMADGE, Georgia

Vice Chairman VANCE R. HARTKE, Indiana

AL ULLMAN, Oregon WALLACE F. BENNETT, Utah

JAMES A. BURKE, Massachusetts CARL T. CURTIS, Nebraska

HERMAN T. SCHNEEBELI, Pennsylvania

HAROLD R. COLLIER, Illinois
LAURENCE N. WOODWORTH, Chief of Staff
LINCOLN ARNOLD, Deputy Chief of stað
HERBERT L. CHABOT, A88istant Chiej of staf
BERNARD M. SHAPIRO, Legislation Counsel

(II)

LETTER OF TRANSMITTAL

APRIL 3, 1974. The Joint Committee on Internal Revenue Taxation is filing with the House of Representatives and the Senate of the United States the following staff report which represents an analysis of the President's tax returns for the years 1969 through 1972.

The committee has so far examined only the introduction and summary of conclusions in this report. In releasing this report, the committee is doing so without expressing its own views on the report. The committee has not reached any conclusions in that respect.

RUSSELL B. Long, Chairman.
HERMAN E. TALMADGE.
VANCE R. HARTKE.
WALLACE F. BENNETT.

WILBUR D. Mills,

Vice Chairman.
AL ULLMAN.
JAMES A. BURKE.
HIERMAN T. SCHNEEBELI.
HAROLD R. COLLIER.

TABLE OF CONTENTS

Page

1

4

Introduction.

Summary of recommendations

Explanations

Part One. Gifts of Papers

1. Scope of examination.

2. 1968 gift of papers -

3. Documents on the second gift of papers furnished the Joint

Committee by President Nixon's representatives -

A. Description of the second gift of papers as set forth in

the press release by the White House on December 8,

1973.

B. Opinion letter from the President's attorneys to Coopers

& Lybrand dated August 22, 1973.

C. Brief submitted to the Joint Committee by the attorneys

for President Nixon on February 19, 1974..

4. Staff analysis of legal considerations...

A. Tax laws relating to gifts of papers.

Law prior to Tax Reform Act of 1969.-

Changes made by the Tax Reform Act of 1969.

Legislative history relating to provisions of the 1969

Act dealing with gifts of papers

B. Common law requirements of a gift.

Introduction..

Donative intent.

Delivery and relinquishment of dominion and control..

Acceptance by the donee.

Subject matter of the gift must be certain

Effect of the Presidential Libraries Act.

C. Is a deed necessary for a gift..

GSA procedures -

Use of a deed....

D. Law relating to gifts of future interests.

E. Who owns Presidential papers.

5. Staff conclusions on the deduction for the second gift of papers.

A. Was there a valid gift of papers on or before July 25,

1969

Intent of donor to make a gift in early 1969.

Delivery of the gift.

Relinquishment of dominion and control by donor.

Subject matter of the gift.

Acceptance by donee..

Summary---

B. Was it necessary for a deed to accompany the gift.

Need for a deed with the second gift of papers.

Was there a valid deed signed in 1969

C. Were the gifts so restricted as to constitute gifts of future

interests.--

Deduction for gift of papers in 1969.

Carryover of excess deduction for gift of papers in

1968

Statement on tax return on restrictions of gift.

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