Tax Court Accepts IRS Projections of Value Added Refund Income and Capital Expenditures

Business Valuation UpdateVol. 8 No. 8
Legal and Court Case Update
August 2002

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2759 Commercial Printing, NEC
323111 Commercial Printing (except Screen and Books)
estate and gift taxation
gift tax, internal revenue service (IRS)
Polack v. Commissioner (I)
T.C. Memo. 2002-145, 2002 Tax Ct. Memo LEXIS 149
June 10, 2002
US
Federal Court
United States Tax Court
Gerald Gray (for taxpayer) <br> Brad Cashion (for IRS)
Marvel

Summary

The issue in this case was the valuation of taxpayer Polack's gift of 1,040,000 shares of Zip Sort Inc. (ZSI) stock that he gifted to his children on Dec. 31, 1992 (260,000 of his nonvoting stock to each of his four children).

See Also

Polack v. Commissioner (I)

Full Text of Court Cases
June 10, 2002

The issue in this case was the valuation of taxpayer Polack's gift of 1,040,000 shares of Zip Sort, Inc. (ZSI) stock that he gifted to his children.