IRS’ Value of Promissory Note Upheld

Business Valuation Update BVLaw
Legal and Court Case Update
December 2, 1996

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2011 Meat Packing Plants
311611 Animal (except Poultry) Slaughtering
federal taxation
Jean A. Stanko (Stanko I) v. CIR
T.C. Memo. 1996-530
US
Federal Court
United States Tax Court
Kerry Packard <br>
Colvin

Summary

The Tax Court affirmed the IRS' valuation of a note received in the sale of a business.

See Also

Jean A. Stanko (Stanko I) v. CIR

Full Text of Court Cases
December 2, 1996

The Tax Court affirmed the IRS's valuation of a note received in the sale of a business. The business owner transferred the note to Stanko and failed to file the company's last tax return. The service held Stanko liable as a transferee for the company's t ...