Redstone v. Commissioner

BVLaw
Full Text of Court Cases
December 9, 2015
7812 Motion Picture and Video Tape Production
512110 Motion Picture and Video Production
federal taxation
expert testimony, mergers and acquisitions (M&A), gift tax, deficiency, internal revenue service (IRS), valuation date, guideline publicly-traded company method, direct capitalization of cash flow analysis

Redstone v. Commissioner
2015 Tax Ct. Memo LEXIS 242
US
Federal Court
Federal
United States Tax Court
Gordon Klein (petitioner); Steven C. Hastings (IRS/respondent)
Lauber

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.