-12-
1994), affd. in part and revd. in part 29 F.3d. 433 (8th Cir. 1994)
to cover the situation involved herein. We decline to do so.
Baptiste involved transferee liability. We held in that case that
a transferee’s liability for interest accrued on unpaid estate tax
owed by a transferee (that is, the interest accrued on the tax
after the transferee liability arose) was not limited (under sec.
6324(a)(2)) to the value of the property transferred from the
estate to the transferee. The Court of Appeals for the Eighth
Circuit disagreed and held that the interest accrued is limited to
the value of the property transferred. Baptiste v. Commissioner,
29 F.3d at 438.
In our opinion, an executor’s liability under 31 U.S.C.
section 3713(b) (1994) is different from that of a transferee. A
transferee has the benefit of enjoying the transferred property;
such is not the case with an executor. To require an executor
(here, petitioner) to be subject to the interest on funds he did
not have the benefit of enjoying would constitute a punitive act
for which there is no legal authority.
To reflect the foregoing,
Decision will be entered
under Rule 155.
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