Summary
The Tax Court valued a note the taxpayers received in the distribution of their former business's assets.
See Also
Jeff A. Wiltzius, et al. v. CIR
The Tax Court valued a note received by the taxpayers in the distribution of their former business' assets. They had owned a topless bar. The court determined that the starting point for valuing the note was its face value, which it reduced by 25% for ris ...