Summary
The petitioners in this case, decedent's estate and a charitable foundation (the Martin M. Schwan Foundation), challenged the IRS' determination that the estate had a tax deficiency based on a bequest to the foundation and that the foundation was liable as a transferee.
See Also
Estate of Schwan v. Commissioner
At issue is the valuation of the decedent's stock in a closely-held corporation for purposes of computing the gross estate and the allowable charitable deduction under Federal tax laws.