Summary
In the Estate of W.W. Jones II v. Commissioner [T.C. Memo 2001-121 (March 6, 2001)], the Internal Revenue Service (ôthe Serviceö) claimed a deficiency of $4,412,527 in the 1995 fed-eral gift tax of W.W. Jones II. There were four issues facing the Court ...
Taxpayer Receiving LP Interest of Lesser Value Did Not Make Gift at FLP Inception
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