Lack of Present Economic Benefit Results in Finding of Future Interest

Business Valuation UpdateVol. 8 No. 6
Legal and Court Case Update
June 2002
0811 Timber Tracts
113110 Timber Tract Operations
estate and gift taxation
gift tax, limited liability company, internal revenue service (IRS)

Hackl v. Commissioner (I)
118 T.C. 279, 118 T.C. No. 14, 2002 U.S. Tax Ct. LEXIS 16
March 27, 2002
Federal Court
United States Tax Court


In the April 2002 issue of Shannon Pratt's Business Valuation Update, Owen Fiore and Erin Wilms discussed various attacks by the IRS on pass-through entities.

See Also

Hackl v. Commissioner (I)

The issue was whether the gifts were present interests or future interests under Section 2503(b) of the tax code.