Summary
In gift tax dispute involving decades-old transaction by a media magnate, Tax Court upholds IRS’s deficiency ruling and credits agency expert’s valuation of transferred stock based on a similar arm’s-length transaction occurring near the valuation date.
Redstone v. Commissioner
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See Also
Subsequent Transaction Too Remote to Allow for Reliable Valuation
In gift tax dispute involving decades-old transaction by a media magnate, Tax Court upholds IRS’s deficiency ruling and credits agency expert’s valuation of transferred stock based on a similar arm’s-length transaction occurring near the valuation date.